The most widely used measure for tracking prices in the United States is the
A)GDP Inflator.
B)Consumer Price Index.
C)Personal Consumption Expenditures.
D)Producer Price Index.

Question

Quizplus · Accepted Answer

The Consumer Price Index (CPI) is the most widely used measure for tracking prices in the United States. It measures the average change in prices paid by urban consumers for a basket of goods and services, including food, housing, transportation, and medical care. It is used to calculate inflation and adjust for inflation when comparing economic data over time. The other options listed, GDP inflator, Personal Consumption Expenditures, and Producer Price Index, are all related to measuring prices and inflation but are not as widely used as the CPI.

The Most Widely Used Measure for Tracking Prices in the United