Question

The CPI is a measure of the overall cost of goods and services produced in the economy the overall cost of inputs purchased by a typical producer the overall cost of buying a market basket of goods and services by a typical consumer the overall cost of stocks on the New York Stock Exchange

Answer 1

Answer:

The overall cost of buying a market basket of goods and services by a typical customer.

Explanation:

The question is incomplete, but I figured that the question is trying to find out the correct meaning of CPI with different options provided. The correct question should be:

The CPI is a measure of

1. the overall cost of goods and services produced in the economy
2. the overall cost of inputs purchased by a typical producer
3. the overall cost of buying a market basket of goods and services by a typical consumer
4. the overall cost of stocks on the New York Stock Exchange

Which option is correct?

CPI or Consumer Price Index evaluates the average prices of a basket of consumer goods and services, for instance, medical care, food, and transportation. It is evaluated by analyzing the changes in and averaging the price of each item in the basket of consumer goods and services.

The CPI is usually used especially to discover situations of inflation of deflation.