Discussion
Consumer Price Index number is also known as :
Answer: B
The Consumer Price Index is also known as the Cost of Living Index.
A Consumer Price Index measures changes in the retail prices of a fixed basket of goods and services bought by a particular class of consumers, such as industrial workers or agricultural labourers. Because it shows how much more those consumers must spend to keep the same standard of living, it is also called the cost of living index, and it is used to fix dearness allowances.
The Wholesale Price Index measures prices at the wholesale level and is a different index. 'Sensitive' and 'composite' are not names for the CPI.
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