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Economics · Oct / Nov 2021 · Paper 13 · Question 21

2281Inflation

What is always indicated by an increase in the Consumer Prices Index (CPI)?

  1. Aan increase in consumer spending in an economy
  2. Ban increase in living standards
  3. Can increase in the average cost of living
  4. Dan increase in the purchasing power of money

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Correct answer: C. an increase in the average cost of living

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