John complained to his buddy,Frank,that the prices of all the goods he and his family buy have increased a lot over the past year.Frank disagreed,saying that the prices of some goods have gone up a bit,but other prices have declined.Frank feels that the average price of consumer goods hasn't changed very much.In order to resolve their disagreement,John and Frank should look at recent figures for the:
A)PPI
B)GDP
C)MEW
D)CPI

Question

Quizplus · Accepted Answer

The Consumer Price Index (CPI) measures the average change over time in the prices paid by urban consumers for a market basket of consumer goods and services, making it the appropriate measure to resolve their disagreement about changes in consumer goods prices.

John Complained to His Buddy,Frank,that the Prices of All the Goods