Inflation Can Be Measured by the

question 2

Multiple Choice

Inflation can be measured by the

• A)change in the consumer price index.
• B)percentage change in the consumer price index.
• C)percentage change in the price of a specific commodity.
• D)change in the price of a specific commodity.

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Definitions:

Reliable

Pertains to the consistency of a measure or instrument; if the results are repeatable under the same conditions.

Valid

Refers to the extent to which a concept, conclusion, or measurement is well-founded and corresponds accurately to the real world.

Criterion Validity

Criterion validity refers to how well one measure predicts an outcome based on the criteria of another measure.

Future Setting

A scenario or context that is projected or anticipated to occur in a forward time frame.