What Does the Consumer Price Index (CPI) Measure

question 137

Multiple Choice

What does the consumer price index (CPI) measure?

• A) the change in prices of a set of goods that represent the minimum acceptable standard of living for the nation's consumers
• B) the change in the rate of inflation over time
• C) the change in weighted average price over time in a "market basket" of goods and services bought by the typical consumer
• D) the percentage of income consumers must use to pay for goods relative to their average incomes in the same time period

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The quality of being open to more than one interpretation; vagueness or uncertainty of meaning.