_____ is a measure of inflation based on changes in the cost of a market basket of consumer goods and services.
A) Internal rate of return
B) Consumer price index (CPI)
C) Purchasing power
D) Gross domestic product (GDP)
E) None of the above

Question

Quizplus · Accepted Answer

The consumer price index (CPI) is a measure of inflation that reflects changes in the cost of a market basket of consumer goods and services, such as food, housing, transportation, and healthcare. It tracks the price changes of these items over time and is often used by economists and policymakers to gauge the overall level of inflation in an economy.

_____ Is a Measure of Inflation Based on Changes in the Cost