Watch the https://www.youtube.com/watch?v=o_JVfyvoa04 and answer the questions!

1. The objective of the Consumer Price Index (CPI) is to measure changes in the cost of living for American consumers. Group of answer choices

• True
• False

2. The Bureau of Labor Statistics (BLS) publishes three official versions of the Consumer Price Index (CPI) each month.

Group of answer choices

• True
• False

3. What is CPI-U?

Group of answer choices

• Changes in the cost of living for all urban consumers.
• Changes in the cost of living for all international consumers.
• Changes in the cost of living for all rural consumers.
• Changes in the cost of living for urban wage earners and clerical workers.

4. What is CPI-W?

Group of answer choices

• Changes in the cost of living for all international consumers.
• Changes in the cost of living for urban wage earners and clerical workers.
• Changes in the cost of living for all rural consumers.
• Changes in the cost of living for all urban consumers.

5. What are the two ways that the Chained CPI different from the CPI-U and CPI-W?

Group of answer choices

• Chained CPI gauges how consumers respond to changes in relative prices. It reflects changes in actual consumer behavior.
• Chained CPI differs in the weights or 'relative importance,' that is the share of the consumer budget of various consumer goods and services in the Chained CPI, which are more current than in CPI-U and CPI-W.
• There is no difference.
• all answers are correct.

6. The goal of the US Labor Statistics is measure changes in the cost of living for consumers.

Group of answer choices

• True
• False