Have an account?
Skip to Content
12 questions
Show Answers
See Preview
- Multiple ChoicePlease save your changes before editing any questions.
Inflation is...
A measure of price change
An increase in the rate of price increase
An increase in general price levels
A decrease in general price level
- Multiple ChoicePlease save your changes before editing any questions.
How is inflation measured?
By comparing average prices of all goods and services produced
Consumer Price Index
Producer Price index
Government Price Index
- Multiple ChoicePlease save your changes before editing any questions.
What is the UK target rate of inflation?
1%
2%
3%
4%
- Multiple ChoicePlease save your changes before editing any questions.
A decrease in general price level is called...
Hyperinflation
Low inflation
Deflation
Disinflation
- Multiple ChoicePlease save your changes before editing any questions.
Inflation caused by a rise in wage rates would be classified as..
Demand pull
Demand push
Cost push
Cost pull
- Multiple ChoicePlease save your changes before editing any questions.
Inflation caused by an increase in consumption would be classified as..
Demand pull
Demand push
Cost push
Cost pull
- Multiple ChoicePlease save your changes before editing any questions.
During a recession, inflation is likely to be..
High
Low
- Multiple ChoicePlease save your changes before editing any questions.
A consequence of high inflation is that it benefits borrowers.
True
False
- Multiple ChoicePlease save your changes before editing any questions.
Which of the following measure of inflation includes mortage costs?
CPI
RPI
CPIH
RPIH
- Multiple ChoicePlease save your changes before editing any questions.
As at October 2021 what was the CPI rate of inflation?
3.1%
4%
4.2%
3.2%
- DrawPlease save your changes before editing any questions.
Show demand pull inflation using and AS/AD diagram
Background image
- DrawPlease save your changes before editing any questions.
Show cost push inflation using an AS/AD diagram
Background image