Why do statisticians change the composition of the basket of goods used in constructing a price index

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Why do statisticians change the composition of the basket of goods used in constructing a price index from time to time?

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Economics

ISBN: 9781408093795

3rd Edition

Authors: Mark P. Taylor, N. Gregory Mankiw

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Question Posted: Nov 04, 2024 07:01 AM

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Why do statisticians change the composition of the basket of goods used in constructing a price index from time to time?
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Why do statisticians change the composition of the basket of goods used in constructing a price index

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Economics

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