Which of the following statements concerning price indexes is not accurate

Answer

The statement concerning price indexes which is not accurate is Price Indexes define the cost of goods in the entire economy at a given point in time

Explanation

The scale used in measuring changes in the levels of prices is called price index. This percentage scale can be based on prices of a single good or a market basket. The indices have direct effect to wages of union staff whose adjustments in cost of living depend on consumer price index.