Unit 2a

Unit 2a

Assessment

Flashcard

Business

9th - 12th Grade

Hard

Created by

Wayground Content

FREE Resource

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20 questions

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1.

FLASHCARD QUESTION

Front

What is inflation?

Back

When the general level of prices rise

2.

FLASHCARD QUESTION

Front

Is all inflation bad?

Back

No, a very small increase can stimulate the economy

3.

FLASHCARD QUESTION

Front

What does the Consumer Price Index (CPI) measure?

Back

The prices of a set of goods over a period of time

4.

FLASHCARD QUESTION

Front

What is GDP?

Back

The total dollar value of all finished goods and services produced in a country in a given time period

5.

FLASHCARD QUESTION

Front

__________ refers to a decrease in price level.

Back

Deflation

6.

FLASHCARD QUESTION

Front

Who is most likely to be hurt by inflation? Options: someone who borrowed money, a retiree on a fixed income, a business owner, the U.S. government

Back

a retiree on a fixed income

7.

FLASHCARD QUESTION

Front

When prices increase very rapidly

Back

Hyperinflation

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