(3 The CPI is a measure of the overall cost of a the production inputs purchased
ID: 1104768 • Letter: #
Question
(3 The CPI is a measure of the overall cost of a the production inputs purchased by a typical business. b. the good s and services purchased by a typical consumer as determined by govt. surveys all goods and services produced in the economy. c. d. the stocks on the New York Stock Exchange. Table 21-1 The table below pertains to Pieway, an economy in which the typical consumer's basket consists of 10 bushels of peaches and 15 bushels of pecans Price of Peaches Price of Pecans Year 2005 $11 perbushel 6 per bushe 2006 $9 per bushel$10 per bushelExplanation / Answer
2.
Correct answer:
B.
Explanation:
Consumer price index (CPI) helps in understanding the change in the cost of living over a period of time. It can also be used to identify the inflation rate prevailing in the economy.
Tabular data (21-1) has no any question attached to it.
Related Questions
Navigate
Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.