Final answer:
The purpose of the market basket of goods and services in generating the CPI is to measure changes in the cost of living.
Step-by-step explanation:
The purpose of the market basket of goods and services in generating the CPI is to measure changes in the cost of living.
The market basket represents the average consumption of a typical family and includes a variety of goods and services such as food, housing, transportation, and healthcare.
By tracking the prices of these items over time, the CPI provides insight into how inflation affects the average person's purchasing power and cost of living.