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The index that measures the average changes in prices of goods and services consumed by people for their daily use is known as:
  • a)
    Wholesale Price Index (WPI)
  • b)
    Consumer Price Index (CPI)
  • c)
    Gross Domestic Product (GDP)
  • d)
    Sensex
Correct answer is option 'B'. Can you explain this answer?
Most Upvoted Answer
The index that measures the average changes in prices of goods and ser...
CPI measures the average changes in prices of goods and services purchased by consumers, reflecting inflation or deflation trends.
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The index that measures the average changes in prices of goods and services consumed by people for their daily use is known as:a)Wholesale Price Index (WPI)b)Consumer Price Index (CPI)c)Gross Domestic Product (GDP)d)SensexCorrect answer is option 'B'. Can you explain this answer?
Question Description
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