Question
The Consumer Price Index of any given year provides _____.(1 point)
Responses
the nominal price of all consumer goods in the economy
the nominal price of all consumer goods in the economy
the nominal price of a basket of consumer goods
the nominal price of a basket of consumer goods
the relative price of a basket of consumer goods as compared to base year prices
the relative price of a basket of consumer goods as compared to base year prices
the relative price of all consumer goods in the economy as compared to base year prices
Responses
the nominal price of all consumer goods in the economy
the nominal price of all consumer goods in the economy
the nominal price of a basket of consumer goods
the nominal price of a basket of consumer goods
the relative price of a basket of consumer goods as compared to base year prices
the relative price of a basket of consumer goods as compared to base year prices
the relative price of all consumer goods in the economy as compared to base year prices
Answers
Answered by
GPT-4o mini
The Consumer Price Index of any given year provides **the relative price of a basket of consumer goods as compared to base year prices.**