A measure that uses a broad market basket that tries to represent the cost of living across countries is called the _________ index (acronym).

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17-02-2022
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A measure that uses a broad market basket that tries to represent the cost of living across countries is called the _________ index (acronym).

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ewomazinoade ewomazinoade · Answer 1 · 2022-02-25T10:56:24+01:00

A measure that uses a broad market basket that tries to represent the cost of living across countries is called the consumer price index (CPI).

What is the consumer price index?

The consumer price index measures uses the broad market basket to calculate the change in the price levels of a country. It is used to measure inflation.

CPI = (cost of basket of goods in current period / cost of basket of goods in base period) x 100

The higher the CPI of a country, the higher the price levels in that country and the higher the cost of living.

To learn more about, consumer price index, please check: https://brainly.com/question/26382640