U.S. Bureau of Labor Statistics (BLS) Economist Index Practice Questions
The free U.S. Bureau of Labor Statistics (BLS) Economist questions that deal with index, with answers and explanations. The full bank and the timed practice test cover every topic the exam asks about.
Question #1
What is the primary purpose of the Consumer Price Index (CPI)?
Correct answer: C
Explanation
The CPI measures the average change over time in the prices paid by urban consumers for a market basket of consumer goods and services, indicating inflation.
Question #7
Which index is used to measure inflation?
Correct answer: B
Explanation
The Consumer Price Index (CPI) is the primary index used to measure inflation based on the average change in prices paid by consumers.
Question #10
What does the Employment Cost Index measure?
Correct answer: C
Explanation
The Employment Cost Index measures the changes in the costs of labor, including wages and salaries as well as employee benefits.
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