ECONOMICS
INFLATION
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
The change over time of the weighted prices of a particular group of goods and services
|
|
|
The change over time of the weighted wholesale price index
|
|
|
The change over time of the difference between the gross domestic product deflator and the wholesale price index
|
|
|
Inflation corrected for changes in the real gross domestic product
|
|
|
Inflation corrected for changes in the wholesale price index
|
Detailed explanation-1: -A consumer price index (CPI) measures changes in the prices of goods and services that households consume. Such changes affect the real purchasing power of con-sumers’ incomes and their welfare.
Detailed explanation-2: -The Consumer Price Index (CPI) is a measure of the average change overtime in the prices paid by urban consumers for a market basket of consumer goods and services.
Detailed explanation-3: -The most well-known indicator of inflation is the Consumer Price Index (CPI), which measures the percentage change in the price of a basket of goods and services consumed by households.
Detailed explanation-4: -A consumer price index (CPI) is usually calculated as a weighted average of the price change of the goods and services covered by the index. The weights are meant to reflect the relative importance of the goods and services as measured by their shares in the total consumption of households.
Detailed explanation-5: -The consumer price index (CPI) is a means to measure the weighted average cost of consumer bags of goods and services such as food, medical care, and transportation.