All categories

3 years ago

The Consumer Price Index (CPI) is best used to determine

Business

2 answers:

nlexa [21]3 years ago

8 0

The answer is "B) the rate of inflation".

Inflation alludes to a general increment in the Consumer Price Index (CPI), which is a weighted normal of costs for various products. The arrangement of products that make up the record relies upon which are viewed as illustrative of a typical utilization crate. Therefore, contingent upon the nation and the utilization propensities for most of the populace, the file will include diverse merchandise. A few merchandise may record a drop in costs, though others may build, along these lines the general estimation of the CPI will rely upon the heaviness of every one of the products as for the entire bin. Yearly expansion, alludes to the percent change of the CPI contrasted with that same month of the earlier year.

oksano4ka [1.4K]3 years ago

5 0

Option (B) is correct.

The consumer price index is best used to determine the rate of inflation.

Further Explanation:

Consumer Price Index: Consumer Price Index is a measurement that analyzes the price of various goods and services basket over the years to conclude the change in the price of the goods and services over the years.

CPI is used for determining inflation. All the identical goods and services are divided into baskets, and then the weighted average price of the basket is compared to the prior year’s weighted average price. It measures the change in the price. Inflation is the increase in the price of goods over the years. The comparison of the prices of several years would be helpful for determining the inflation rate for the current year.

Thus, the Consumer Price Index (CPI) is the best used for determining the rate of inflation.

Justification for the correct and incorrect option:

The Dow Jones Index: This is an incorrect option.

The Dow Jones Index is a stock market index. It deals with the value of the listed stocks.

The rate of inflation: This is the correct option.

Consumer Price Index is used for determining the change in the price of the goods and service over the period.

The unemployment rate: This is an incorrect option.

The unemployment rate is the rate of unemployed citizens in an economy.

Currency exchange rates: This is the incorrect option.

The currency exchange rate is the rate at which two currencies are exchanged with each other.

Learn more:

1. Learn more about the demand and supply

brainly.com/question/8794304

2. Learn more about the size of the economic pie

brainly.com/question/6156396

3. Learn more about the economy of Iceland

brainly.com/question/3640343

Answer details:

Grade: Middle School

Subject: Economics

Chapter: Inflation

Keywords: CPI, Consumer Price Index, determine, Dow Jones Index, rate of inflation, unemployment rate, currency exchange rates, goods and services, bucket, change in price, prior year, previous year, current year.

You might be interested in

You are confronted by an angry customer who feels they deserve special treatment outside of your normal customer service policy.

katovenus [111]

Answer:D.

maintain a concerned expression

Explanation:

One of the main traits of a successful Custer service agent is empathy. When the customer is angry and one isaintaining a happy or pleaseant face, he will interprete it as lack of concern for his plight.

The best expression is to maintain a concerned expression that shows you sympathise with his situation and you have personalised the situation.

This sympathy is expressed as doing your best to effectively solve the customer problem.

7 0

3 years ago

Wildside Inc., a company that organizes wildlife tours, gives equal importance to customers and employees. The managers at Wilds

umka2103 [35]

Answer: Internal marketing

Explanation: Internal marketing is the process of facilitating a company's purposes or goals, commodities, and services to workers inside the company. It partakes to developed confidence and devotion among the workers also formulating an elevated amount of participation in the ultimate achievement of the company and encourages the development of the company's trademark public support or recommendation.

8 0

3 years ago

Read 2 more answers

The data-mining technique that finds groups in the data that are similar in some way is____.

Morgarella [4.7K]

The answer is "clustering"

7 0

3 years ago

Read 2 more answers

IF YOU WANT TO BE A VET READ THIS!!!

damaskus [11]

Yes! I am in going into 10th grade and am so excited to do vet school! I take a vet class and a marine biology class every week! I already started looking into colleges like UCDavis and the university of Colorado! I have birds fish and dogs as well!

6 0

3 years ago

In the ____ stage of the adoption process, the consumer may buy the product to experiment with it in use. A. interest B. awarene

dedylja [7]

In the trial stage of the adoption process, the consumer may buy the product to experiment with it in use.

Explanation:

There are basically 5 different stages in the consumer adoption process.

1. Awareness: This first stage is concerned with the consumer being exposed to an innovation or product. Right now he does not have too much information about it, and may not even pay too much attention to it.

2. Interest and Information: It is at this second stage that the consumer wants to voluntarily know more about the said product. He starts collecting information about it from various sources.

3. Evaluation: In this third stage, once the consumer has accumulated all the information he can by means of various sources, he starts comparing the features and qualities of the new product with other already existing products.

4. Trial: After the first three stages, now the consumer is ready to try out the product for the first time. He may go ahead and purchase it, or if free samples are readily available, he may use those too.

5. Adoption: The fifth and last stage of the consumer adoption process is about the consumer purchasing the said product, after all the trials and evaluations.

4 0

3 years ago