Question

The cpi is a measure of the overall cost of the goods and services bought by __________. a a typical consumer, and the cpi is computed and reported by the department of the treasury. b typical business firms, and the cpi is computed and reported by the department of the treasury. c a typical consumer, and the cpi is computed and reported by the bureau of labor statistics. d typical consumers and typical business firms, and the cpi is computed reported by the bureau of labor statistics.

Answer 1

The CPI is a measure of the overall cost of the goods and services bought by a typical consumer, and the CPI is computed and reported by the Bureau of Labor Statistics. The CPI stands for Consumer Price Index. The consumer price index will measure the weighted average pricing of what a basket of goods or services is priced at. They then calculate and average these prices to see what the price will change to overtime and how consumers will react to the market change in price. 

Answer 2

The CPI is an indicator of the value of goods purchased by the average consumer, and it is calculated and published by the Bureau of Labor Statistics.

Explanation:

The Consumer Price Index (CPI) is an abbreviation for the Consumer Price Index. The consumer price index would calculate the weighted average cost of a basket of products or services.

They then compute and average these values to determine how the price will fluctuate over time and how customers will response to market pricing changes.

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