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 by a typical family is​ the:

a. aggregate price level index.
b. producer price index​ (ppi).
c. consumer price index​ (cpi).
d. inflation rate index. suppose the​ economy's consumer price index​ (cpi) in 2008 was 188188 and the cpi in 2009 was 197197. the inflation rate over the period from​ 2008-2009 was equal to nothing​%. ​(enter your response rounded to one decimal​ place.)?

Answer 1

C. Consumer price index(CPI)

Answer 2

C) Consumer Price Index (CPI)

CPI: The government periodically record the average price increase of the most popular goods and services ( the basket of goods) purchased within an economy. Then, that is then calculated to get the inflation rates.

——-

197197 - 188188 = 9009

(-) 9009 / 188188 = -0.04787....

-0.04787 x 100 = - 4.8%



It’s actually deflation over 2008-2009