Which of the following best describes what the consumer price index is used to indicate?
A) the average wage rate for a given region
B) the economic performance of key consumer product companies
C) the changes in the cost of consumer products over time
D) the percentage of consumers in the total population looking for work
E) the number of price increases within a given period of time

Question

Quizplus · Accepted Answer

C) The consumer price index is a measure of the prices of typical products purchased by consumers living in urban areas. It is expressed as a percentage of prices as compared to a base period.

Which of the Following Best Describes What the Consumer Price