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Question Practice

The formula for calculating the Consumer Price Index (CPI) is based on which of these elements?

Attempt the question, check the explanation, and continue with similar questions to build confidence before exams.

MCQ_SA
CBSE
Class 11
Economics
Statistics for Economics
Index Numbers
Question Bank

The formula for calculating th...

Single Answer MCQ
Q-00104153

The formula for calculating the Consumer Price Index (CPI) is based on which of these elements?

1

The total income of consumers

2

The change in retail prices of a fixed basket of goods

3

Government tax rates

4

The geographical distribution of consumers

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