The figure to the right shows the Case-Shiller price index of houses. Economists Karl Case of Wellesley College and Robert Shiller of Yale University developed this index. Many economists consider changes in the average price of houses in the United States to be difficult to measure. What challenges might exist in accurately measuring housing prices?

250 The figure to the right shows the Case-Shiller price index of houses. Economists Karl Case of Wellesley College and Robert Shiller of Yale University developed this index. Many economists consider changes in the average price of houses in the United States to be difficult to measure. What challenges might exist in accurately measuring housing prices? 200 Index of home prices (January 2000 = 100) 150 100 50 0 2000 2002 2004 2006 2008 2010 O A. Whether to use the price sold as the value of the house or the appraised value. O B. Whether there are other features of a home or neighborhood that are not easily identifiable from an index number. C. Whether the value accounts for quality improvements or declines if the index is based solely on selling prices. OD. All of the above