How is a market basket used to measure the price level?

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19-10-2021
Social Studies

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How is a market basket used to measure the price level?

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marcolunacarcamo marcolunacarcamo · Answer 1 · 2021-10-19T18:50:08+02:00

marcolunacarcamo marcolunacarcamo

19-10-2021

Answer: Once you have picked a basket of goods, you can keep track of how much it cost to buy that particular basket over time. To see if it is increasing or decreasing.

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kanyapitts2006 kanyapitts2006 · Answer 2 · 2021-10-19T18:51:55+02:00

kanyapitts2006 kanyapitts2006

19-10-2021

Answer:

The total value of an item in the market basket makes up the price level

Explanation:

Hope this helps.

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