The _________ is a statistic used to compute the pace of inflation or deflation.
A) consumer price index
B) gross domestic product
C) index of leading indicators
D) index of inflationary trends

Question

Quizplus · Accepted Answer

The consumer price index (CPI) is specifically designed to measure changes in the price level of consumer goods and services, providing an indication of the rate of inflation or deflation. It measures the average cost of a fixed basket of goods and services consumed by urban households, including food, housing, clothing, transportation, medical care, and education. Therefore, it is the best choice for this question.

The _________ Is a Statistic Used to Compute the Pace