Question
What index is used to measure the average prices paid by a typical family? An average of the prices of the goods and services purchased
What index is used to measure the average prices paid by a typical family?
An average of the prices of the goods and services purchased by a typical family is the:
A.
producer price index (PPI).
B.
inflation rate index.
C.
consumer price index (CPI).
Your answer is correct.D.
aggregate price level index.
Suppose the economy's consumer price index (CPI) in 2008 was 185 and the CPI in 2009 was 199.
The inflation rate over the period from 2008-2009 was equal to . (Enter your response rounded to one decimal place.)
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started
Essentials Of Economics
Authors: N. Gregory Mankiw
5th Edition
0324590024, 9780324590029
