What is the Consumer Price Index (CPI) primarily used to measure?

Understanding Inflation and the Consumer Price Index (CPI)

Interactive Video
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Economics, Business, Social Studies
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9th - 12th Grade
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Medium

Mia Campbell
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10 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The stock market performance
The average income of households
The unemployment rate
The change in prices for a basket of goods and services
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which organization is responsible for calculating the CPI?
Federal Reserve
Department of Commerce
Bureau of Labor Statistics
Internal Revenue Service
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the largest expense category considered in the CPI?
Transportation
Food
Healthcare
Housing
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How many workers does the BLS employ to track prices for the CPI?
Over 200
Over 450
Over 100
Over 300
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which types of spending are excluded from the CPI calculations?
Out-of-pocket expenses
Rent and mortgage payments
Groceries and gasoline
Employer-sponsored healthcare plans
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Why might someone who drives to work feel inflation more than someone who takes the subway?
Because public transportation is subsidized
Because car maintenance is cheaper
Because subway fares are fixed
Because gas prices have increased significantly
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is one reason the Federal Reserve prefers the PCE index over the CPI?
The PCE is easier to calculate
The PCE is updated every two years
The PCE includes more categories
The PCE changes its basket monthly based on consumer trends
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