Asked by Benoit BOUDA on May 08, 2024
Verified
One of the most widely reported measures of inflation is the:
A) consumer price index.
B) producer price index.
C) GDP deflator.
D) Gini coefficient.
E) real interest rate.
Consumer Price Index
A metric that assesses the weighted average cost of a collection of consumer goods and services, serving as a gauge for inflation levels.
Producer Price Index
A measure of the average changes in prices received by domestic producers for their output.
GDP Deflator
An economic metric that converts output measured at current prices into constant-dollar GDP to adjust for inflation.
- Understand the definition and measurement of inflation through various indexes like CPI.
Verified Answer
ZM
Zwothe MagwaraMay 14, 2024
Final Answer :
A
Explanation :
The consumer price index (CPI) 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, and is widely used as a measure of inflation.
Learning Objectives
- Understand the definition and measurement of inflation through various indexes like CPI.