Consumer Price Index (CPI) Real Estate License Exam Study Guide AgentExamPass.com
Consumer Price Index (CPI)
measure of average prices paid of common items
The consumer price index is a measure of the average prices paid by consumers of common items. A survey of 7,000 families who keep a two week diary of items purchased generates the data. Items surveyed are from over 200 categories in eight major groups: food & beverages, housing, apparel, transportation, medical care, recreation, education & communication and other goods and services. The consumer price index is a measure of the average prices paid by consumers of common items. Related Words: cost of living index
Multiple Choice Question
Consumer Price Index (CPI)
A confirmation that a signing was done by free will
B measure of average prices paid of common items
C pricing basis for all retail prices, nationwide
D specific prices of luxury items paid by consumers
Correct Answer: b
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