Inflation Review Quiz

Inflation Review Quiz

11th - 12th Grade

14 Qs

quiz-placeholder

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Inflation Review Quiz

Inflation Review Quiz

Assessment

Quiz

11th - 12th Grade

Medium

Created by

JONATHAN FROST

Used 75+ times

FREE Resource

14 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Media Image
What is inflation?

a rise in all prices

a drop in most prices

a rise in some prices

a general rise in prices

2.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Media Image

The _______ is a measure of the average change over time in the prices paid by urban consumers for a market basket of consumer goods and services.

Consumer Price Index

Aggregate supply

Producer Price Index

Aggregate demand

3.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Which of the following causes of inflation is often described as “too much money chasing too few goods”?

Demand-pull inflation

Cost-push inflation

Demand-push inflation

Cost-pull inflation

4.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Media Image

Fill in the blank: When inflation is high the _______________of the dollar decreases.

cost value

purchasing power

importance

validity

5.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Demand-Pull inflation can be describes as too many _________ chasing too few __________

jobs, workers

consumers, producers

dollars, goods

banks, customers

6.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Which of the following groups suffer from high inflation?

Borrowers

Lenders

Taxpayers

Property Investors

7.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Media Image

According to the wage-price spiral, if a company gives a worker a raise in pay, what must they also do?

Raise the price of their products

go out of business

lower the price of their products

merge with a competitor

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