The consumer price index tries to gauge how much incomes must rise to maintain
A)an increasing standard of living.
B)a constant standard of living.
C)a decreasing standard of living.
D)the highest standard of living possible.

Question

Quizplus · Accepted Answer

The Consumer Price Index (CPI) measures the average change over time in the prices paid by urban consumers for a market basket of consumer goods and services. It is used to gauge how much incomes must rise to maintain a constant standard of living, reflecting the cost of maintaining a fixed level of consumption.

The Consumer Price Index Tries to Gauge How Much Incomes