The CPI is defined as
A)the cost-price index, measuring cost increases to producers
B)the cross-price index, measuring the increase in relative prices of two different inputs used in the production process
C)a price index that measures the average price increase of all final goods and services produced
D)a price index that measures the cost of a given market basket of intermediate goods and raw materials
E)a price index that measures the cost of a market basket of goods representing the purchases of a typical urban consumer

Question

Quizplus · Accepted Answer

The CPI (Consumer Price Index) is a price index that measures the cost of a market basket of goods representing the purchases of a typical urban consumer. It is used as a measure of inflation and tracks changes in the prices of goods and services over time.

The CPI Is Defined as