UIIIIIIIII Multiple Choice Question The measure of the average change in the prices urban consumers pay for a fixed "basket" of goods and services is called the: O trade balance O basket price index 50 Concepts completed O present value of goods and services O consumer price index

The correct answer is: **O consumer price index** **Explanation:** The **Consumer Price Index (CPI)** measures the average change over time in the prices paid by urban consumers for a fixed "basket" of goods and services. It is a widely used indicator to assess inflation and the cost of living. Here's why the other options are incorrect: - **Trade balance**: This measures the difference between the value of a country's exports and imports of goods and services. - **Basket price index**: While this term is similar to CPI, "Consumer Price Index" is the standard and widely recognized term used in economics. - **Present value of goods and services**: This refers to the current value of a future stream of cash flows or benefits, discounted at a particular rate. Therefore, the **Consumer Price Index (CPI)** is the most accurate term for the described measure.