GK
BUSINESS ECONOMICS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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1. Consumer Price Index
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2. Product Price Index
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3. Producer Price Index
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4. Market Price Index
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Detailed explanation-1: -The Producer Price Index measures the change in the prices paid to U.S. producers of goods and services. The PPI is a measure of wholesale inflation, while the Consumer Price Index measures the prices paid by consumers. The index is published monthly by the Bureau of Labor Statistics.
Detailed explanation-2: -The Producer Price Index or PPI is an index that measures the average price change received by the producer excluding the indirect taxes. The Wholesale Price Index represents the price change of a basket of goods and includes some taxes levied. The distribution costs are also considered in WPI.
Detailed explanation-3: -The Producer Price Index measures both intermediate demand and final demand for producer goods.