Which of the following is a measure of changes in prices of goods and services in the product and service markets over time?
A)Producer price survey
B)Product market competitor wage survey
C)Labor market competitor wage survey
D)Consumer price index

Question

Quizplus · Accepted Answer

The Consumer Price Index (CPI) is a measure of changes in prices of goods and services in the product and service markets over time. It provides a statistical estimate of the rate of inflation in the economy, as it measures changes in the prices paid by consumers for a fixed basket of goods and services. Options A, B, and C are not relevant to measuring changes in prices of goods and services in the product and service markets.

Which of the Following Is a Measure of Changes in Prices