Which index is used to track the variation in the cost of essential goods and services relative to a fixed base period?

Multiple choice question for Basic of Economics. Select an option, then review the explanation below.

Explanation

Option A refers to the Human Development Index, which measures overall development. Option B is the Consumer Price Index, commonly used for price tracking. The correct answer is Option C, the Complete Price Index, which specifically measures price changes in basic goods and services compared to a base period. Option D, Comparative Price Index, is not the standard term used in this context.

Practice related questions from the same subject.

1.Which of the following best describes deflation?
2.Under what condition can two nations benefit from engaging in international trade?
3.Which of the following represents a legitimate form of currency?
4.Which political ideology is best summarized by the phrase, "From each according to his ability, to each according to his needs"?
5.Which type of currency experiences a decline in its exchange rate due to a continuous balance of payments deficit?

Which index is used to track the variation in the cost of essential goods and services relative to a fixed base period?

Explanation

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