The Consumer Price Index Is

Multiple Choice

The consumer price index is

A) a measure of the increase in the average price of all of the goods that are included in the calculation of GDP.
B) a comparison of the cost of buying a typical bundle of goods during a given period with the cost of buying the same bundle during an earlier base period.
C) the ratio of the average price of a typical market basket of goods compared to the cost of producing those goods during the previous year.
D) a comparison of the cost of the typical bundle of goods consumed in period 1 with the cost of a different bundle of goods typically consumed in period 2.