The Consumer Price Index Is Used to

question 36

Multiple Choice

The consumer price index is used to

• A)monitor changes in the level of wholesale prices in the economy.
• B)monitor changes in the cost of living over time.
• C)monitor changes in the level of real GDP over time.
• D)monitor changes in the stock market.

---

Definitions:

Scale

A system or series of marks used for measuring or quantifying objects, distances, or the relative level or intensity of something.

APR

Annual Percentage Rate; the annual rate charged for borrowing or earned through an investment, including any fees or additional costs associated with the transaction.

Mortgage

A loan used by individuals and businesses to purchase real estate without paying the entire purchase price upfront, wherein the property itself serves as collateral for the loan.

Interest

The cost of borrowing money, typically expressed as a percentage of the amount borrowed.