4.8 Inflation
9th - 12th grade
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Other, Social Studies
6 days ago
deanhoss
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Preview (19 questions)Show answers
  • Question 1
    120 seconds
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    Q. When inflation is high the _______________of the dollar decreases
    answer choices
    cost value
    purchasing power
    importance
    validity
  • Question 2
    120 seconds
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    Q. If CPI goes from 100 to 300 and your salary goes from $100,000 to $200,000, what happened to your purchasing power?
    answer choices
    Increase
    Decrease
    No change
  • Question 3
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    Q. What is inflation?
    answer choices
    rise in all prices
    rise in most prices
    rise in some prices
    rise in general prices
  • Question 4
    30 seconds
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    Q. An index that measures the prices of a market basket of goods that typical consumers purchase.
    answer choices
    Consumer Price Index
    Federal Reserve
    Bank
    Deflation
  • Question 5
    45 seconds
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    Q. Demand-Pull inflation can be describes as too many _________ chasing too few __________
    answer choices
    jobs, workers
    consumers, producers
    dollars, goods
  • Question 6
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    Q. Who is most likely to be hurt by inflation?
    answer choices
    someone who borrowed money
    a retiree on a fixed income
    a business owner
    the U.S. government
  • Question 7
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    Q. What 2 types of inflation are there?
    answer choices
    demand pull and cost push
    demand pull and supply glut
    supply glut and demand side
    supply inflation and demand inflation
  • Question 8
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    Q. What the definition of deflation? 
    answer choices
    decrease in the average price of goods and services
    occurs when the price of goods and services rise
    increase in prices
    I don't know
  • Question 9
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    Q. With inflation, AD > AS 
    answer choices
    True
    False
  • Question 10
    120 seconds
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    Q.

    Deflation occurs because AD < AS and sellers are forced to lower prices

    answer choices

    True

    False

  • Question 11
    120 seconds
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    Q. What causes demand pull inflation?
    answer choices
    rise in price due to a decrease in supply
    a rise in price level due to an increase in consumption
    a rise in price due to an increase in the cost of production
    a decrease in price due to a decrease in supply
  • Question 12
    120 seconds
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    Q. Which of the following groups suffer from high inflation
    answer choices
    Borrowers
    Lenders
    Taxpayers
    Property Investors
  • Question 13
    30 seconds
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    Q. According to the wage-price spiral, if a company gives a worker a raise in pay, what must they also do?
    answer choices
     Raise the price of their products
    go out of business
    lower the price of their products
  • Question 14
    30 seconds
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    Q. GDP that is adjusted for inflation
    answer choices
    real GDP
    nominal GDP
    price level
    net national product
  • Question 15
    30 seconds
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    Q. Fiscal policy is
    answer choices
    decisions the government makes to fight inflation
    actions the the Federal Reservice takes to control money supply
    does not help with inflation
  • Question 16
    30 seconds
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    Q. If aggregate demand rises faster than producers can supply goods services
    answer choices
    demand-pull inflation
    cost-push inflation
    inflation
  • Question 17
    30 seconds
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    Q. If aggregate demand rises faster than producers can supply goods services
    answer choices
    demand-pull inflation
    cost-push inflation
    inflation
  • Question 18
    30 seconds
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    Q. Tax that is flat or fixed for individuals
    answer choices
    regressive tax
    proportional tax
    lending tax
    income tax
  • Question 19
    120 seconds
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    Q. What causes cost push inflation
    answer choices
    An increase in demand for goods and services
    An increase in supply
    A rise in production costs passed on to consumers
    A fall in the price of imports
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