passwella.
Menu

JAMB Economics 1995 Question 43

Question 43

Money and Inflation

Which of the following is mostly used to determine the cost of living?

  1. A.Marginal changes in prices
  2. B.Consumer price index
  3. C.Prices of imported and exported commodities
  4. D.Producer price index.
Show the answer and explanation

Answer: B (Consumer price index)

Explanation

The consumer price index measures changes in the prices of the goods and services households normally buy.