Which of the following measures indicates the prices of typical products purchased by American consumers living in urban areas?
A) GDP per capita
B) standard of living
C) consumer price index
D) purchasing power parity
E) Big Mac index

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 used as a comparative standard, to tell whether inflation or deflation is occurring, for example.

Which of the Following Measures Indicates the Prices of Typical