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) Economic indicators

Question

Quizplus · Accepted Answer

The Consumer Price Index (CPI) measures the changes in the prices of a basket of goods and services that are typically consumed by urban households. It reflects the rate of inflation and is used to adjust salaries, wages, pensions, and other income sources to maintain their real value.

Which of the Following Measures Indicates the Prices of Typical