____________ measure of living costs based on changes in retail prices
A)correlation
B)whole sale price index
C)consumer price index
D)regression

Question

Quizplus · Accepted Answer

The Consumer Price Index (CPI) is a measure that examines the weighted average of prices of a basket of consumer goods and services, such as transportation, food, and medical care. It is calculated by taking price changes for each item in the predetermined basket of goods and averaging them. Changes in the CPI are used to assess price changes associated with the cost of living.

____________ Measure of Living Costs Based on Changes in Retail