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27 April, 21:52

The cpi is a price index that can be defined as:

a. a guide to consumer spending.

c. an indicator of what firms ought to produce.

b. a statistical series that can be used to measure consumer prices of a market basket of goods over time.

d. none of the above.

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Answers (1)
  1. 28 April, 00:35
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    It is b. A statistical series ... over time

    It is basically index numbers that record price increases from a base year. It is used to calculate inflation.
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