Ramesh spends some rupees on flour, rice, tuition fee, etc., then which index will be used to calculate the average of this whole expenditure.
A. Wholesale Price Index
B. Productive Price Index
C. Consumer Price Index
D. Producer Price Index
Answer:C
Ramesh spends some rupees on flour, rice, tuition fee, etc., then which index will be used to calculate the average of this whole expenditure.
A. Wholesale Price Index B. Productive Price Index C. Consumer Price Index D. Producer Price Index
Explanation: CPI calculates the average price paid by the consumer to the shopkeepers. The CPI measures the expenses like education, communication, transportation, recreation, apparel, foods and beverages, housing and medical care.