Question

One way the consumer price index (cpi) differs from the gdp chain price index is that the cpi:

a. includes separate market baskets of goods and services for both base and current years.
b. includes only goods and services bought by

Answer 1

One way the consumer price index (CPI) differs from the GDP chain price index is that the CPI: includes only goods and services bought by urban consumers.

The CPI is the Consumer Price Index, is a measure to show the change in prices that consumers pay for different goods and services. The CPI measures the patterns of urban consumers such as urban wage earners and clerical workers. The GDP is the Gross Domestic Product which measures the value in money that is produced from a good or service over a specific period of time.