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Card 7 / 21:
How Changes in the Cost of Living are Measured introduced a number of different price indices. Which price index would be best to use to adjust your paycheck for inflation?
Since the CPI measures the prices of the goods and services purchased by the typical urban consumer, it measures the prices of things that people buy with their paycheck. For that reason, the CPI would be the best price index to use for this purpose.
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