CPI Quiz Questions and Answers Latest 2022/2023,100% CORRECT
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Module
CPI
Institution
CPI
CPI Quiz Questions and Answers Latest 2022/2023
CPI - Correct Answers Consumer Price Index is a measure of the average change over time in the prices paid by urban consumers for a market basket of consumer goods and services
How is the CPI used? - Correct Answers -as an economic indicator
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CPI - Correct Answers Consumer Price Index is a measure of the average change
over time in the prices paid by urban consumers for a market basket of consumer
goods and services
How is the CPI used? - Correct Answers -as an economic indicator
-as a deflator of other economic series
-as a means of adjusting dollar values
CPI reflects the spending patterns of... - Correct Answers all urban consumers and
urban wage earners and clerical workers
What is not included in CPI - Correct Answers Spending patterns of people living in
rural nonmetropolitan areas, farm families, people in the Armed Forces, and
those in institutions, such as prisons and mental hospitals
CPI-U - Correct Answers Consumer Price Index for All Urban Consumers
C-CPI-U - Correct Answers Chained Consumer Price Index for All Urban Consumers
CPI-W - Correct Answers The Consumer Price Index for Urban Wage Earners and
Clerical Workers is based on the expenditures of household included in the CPI-U
definition that meet two requirements: more than 1/2 of the household's income
must come from clerical or wage occupations, and at least one of the household's
earners must have been employed for at least 37 weeks during the past 12
months
Cost of Living Index - Correct Answers measures changes over time in the amount
that consumers need to spend to reach a certain utility level or standard of living.
What would be included in Cost of living Index but not CPI - Correct Answers Take
into account changes in governmental or environmental factors that affect
consumers' well-being
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