Question

An index of average level of prices for all goods and services in the economy is the

a.
implicit GDP price deflator.
c.
producer price index.
b.
consumer price index.
d.
current GDP.

Answer 1

`\large \sf \pmb{B) \: Consumer \: Price \: Index(CPI)}`

• An index of average level of prices for all goods and services in the economy is the Consumer Price Index(CPI).