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Question
The importance of Consumer Price index lies in_____.
The importance of Consumer Price index lies in_____.
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Solution
The correct options are
A Formulation of price policy
B Wage adjustment
C Measurement of real value
D National income deflator
CPI is used by the government, to a great extent, to frame price policies, fiscal and other economic policies. It is also used as a basis for dearness allowance, wage agreements. Furthermore, it is used to measure the purchasing power of the currency and the actual change in national income is estimated.
A
Formulation of price policy
B
Wage adjustment
C
Measurement of real value
D
National income deflator
CPI is used by the government, to a great extent, to frame price policies, fiscal and other economic policies. It is also used as a basis for dearness allowance, wage agreements. Furthermore, it is used to measure the purchasing power of the currency and the actual change in national income is estimated.
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