Which of the following is a measure of prices of goods and services in the product and service markets?
A) Producer price surveys
B) Product market competitor wage surveys
C) Labor market competitor wage surveys
D) Consumer price index

Question

Quizplus · Accepted Answer

The Consumer Price Index (CPI) measures the average change in prices of goods and services consumed by households, thus it is a measure of prices in the product and service markets. A) Producer Price Surveys measure the selling prices received by producers of goods and services, B) Product Market Competitor Wage Surveys measure the wages paid by competitors in the product market, and C) Labor Market Competitor Wage Surveys measure the wages paid by competitors in the labor market.

Which of the Following Is a Measure of Prices of Goods