What Does the Consumer Price Index (CPI) Measure

Multiple Choice

What does the consumer price index (CPI) measure?

A) the change in prices of a set of goods that represent the minimum acceptable standard of living for the nation's consumers
B) the change in the rate of inflation over time
C) the change in weighted average price over time in a "market basket" of goods and services bought by the typical consumer
D) the percentage of income consumers must use to pay for goods relative to their average incomes in the same time period