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Practice Questions
Test your understanding with targeted questions related to the topic.
Question 1
Easy
What does CPI measure?
💡 Hint: Think about consumer spending.
Question 2
Easy
Name one method to calculate the CPI.
💡 Hint: What method uses base year quantities?
Practice 4 more questions and get performance evaluation
Interactive Quizzes
Engage in quick quizzes to reinforce what you've learned and check your comprehension.
Question 1
What does CPI stand for?
- Consumer Price Index
- Current Price Index
- Common Price Indicator
💡 Hint: Think about what it tracks.
Question 2
True or False: The Paasche index uses base year quantities.
- True
- False
💡 Hint: Remember which method adjusts to current prices.
Solve and get performance evaluation
Challenge Problems
Push your limits with challenges.
Question 1
Calculate the CPI given the following prices for a basket over two years: Year 1 (10 items at $2 each) Year 2 (10 items at $2.5 each).
💡 Hint: Use the CPI formula: (Current Year Cost / Base Year Cost) × 100.
Question 2
Discuss the implications of a rapidly increasing CPI for small businesses.
💡 Hint: Consider how consumers react to price changes.
Challenge and get performance evaluation