The _____ is a measure of the average change in prices of a market basket of goods and services.

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12-12-2017
Social Studies

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The _____ is a measure of the average change in prices of a market basket of goods and services.

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doghunt doghunt · Answer 1 · 2017-12-12T22:12:25+01:00

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12-12-2017

The consumer price index is a measure of the average change in prices of a market basket of goods and services.

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Tabbey Tabbey · Answer 2 · 2019-05-22T04:28:58+02:00

Answer: Consumer Price Index (CPI)

The Consumer Price Index (CPI) is a measure of the average change in prices of a market basket of goods and services.

Explanation:

The Consumer Price Index (CPI) refers to a comprehensive measure which examines the average change in the price of a basket of goods over a defined period of time. It can be calculated by taking the price change for each of the items in the basket of goods and averaging them. It is used by economists and policy makers as a measurement of inflation rate. It is used as a measure of the aggregate price level in an economy.