Which of the following is a measure of inflation based on changes in the cost of a market basket of consumer goods and services?
A)Inflation
B)Consumer price index (CPI)
C)Purchasing power
D)None of these

Question

Quizplus · Accepted Answer

The Consumer Price Index (CPI) is a measure of inflation that tracks the changes in the cost of a market basket of goods and services commonly consumed by households. It is a widely used indicator of inflation and is used by policymakers, businesses, and investors to track changes in the cost of living over time.

Which of the Following Is a Measure of Inflation Based