Which index measures the average prices paid by urban consumers for a basket of consumer goods and services?

Name: Which index measures the average prices paid by urban consumers for a basket of consumer goods and services?
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Question

Quizplus · Accepted Answer

The Consumer Price Index (CPI) measures the average prices paid by urban consumers for a basket of consumer goods and services, making it the best choice among the options given. The other options (UII, PII, UCI, and CII) do not represent existing index measures.

Which Index Measures the Average Prices Paid by Urban Consumers