What is the measure of the average change in prices over time in a large "basket" of goods and services purchased by Canadians known as?
A)the consumer price index
B)the inflation index
C)a cost of living allowance
D)a cost of living adjustment

Question

Quizplus · Accepted Answer

The measure of the average change in prices over time in a large "basket" of goods and services purchased by Canadians is known as the consumer price index (CPI). The CPI is used to track inflation and is commonly used as a benchmark for cost of living adjustments and allowances.

What Is the Measure of the Average Change in Prices