What is the Consumer Price Index used for?
A)to monitor changes in the level of real GDP
B)to track changes in the stock market
C)to track changes in the level of wholesale prices in the economy
D)to monitor changes in the cost of living of typical households

Question

Quizplus · Accepted Answer

The Consumer Price Index (CPI) is used to monitor changes in the cost of living of typical households. It measures the average change in prices paid by urban consumers for a market basket of goods and services, including housing, transportation, food, and medical care, among other things.

What Is the Consumer Price Index Used For