What is the primary purpose of the Consumer Price Index (CPI)?
CPI Practice AP Macroeconomics

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Business, Social Studies
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11th Grade - University
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Hard
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5 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
To track changes in the cost of living over time
To measure the economic growth of a country
To calculate the GDP of a nation
To determine the unemployment rate
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How is the Market Basket used in calculating the CPI?
It is a collection of goods and services whose prices are tracked over time
It is a list of luxury items that are excluded from inflation calculations
It is a set of financial assets used to measure economic stability
It is a group of services provided by the government
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
If the CPI for a given year is 200, what does this indicate about prices compared to the base year?
Prices have doubled
Prices have remained the same
Prices have decreased by 50%
Prices have increased by 200%
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
When calculating the CPI, what does a value of 100 signify?
Prices have increased by 100%
Prices have decreased by 100%
Prices have doubled since the base year
Prices are the same as the base year
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
If the CPI is calculated to be 80 for a certain year, what does this imply about prices compared to the base year?
Prices are 20% higher than the base year
Prices are 20% lower than the base year
Prices have remained unchanged
Prices have doubled since the base year
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