Asked by Kyran English on Jun 16, 2024
Verified
Since World War II,the consumer price index has increased by an average of _____.
A) 1.4 percent per year
B) 2.1 percent per year
C) 6.4 percent per year
D) 5.6 percent per year
E) 3.5 percent per year
Consumer Price Index
A calculation that evaluates the weighted mean prices of a group of consumer items and services, including healthcare, food, and transport, for assessing inflation.
Percent Per Year
A rate or proportion of a quantity expressed as a fraction of 100 per annum.
- Attain insights into the history of inflation trends and their underlying reasons.
Verified Answer
TB
Tommy BandyJun 19, 2024
Final Answer :
E
Explanation :
Since World War II, the average annual increase in the consumer price index (CPI) in the United States has been approximately 3.5 percent. This measure reflects the average change over time in the prices paid by urban consumers for a market basket of consumer goods and services.
Learning Objectives
- Attain insights into the history of inflation trends and their underlying reasons.