GWC N5 Economics Revision

GWC N5 Economics Revision

9th - 12th Grade

21 Qs

quiz-placeholder

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GWC N5 Economics Revision

GWC N5 Economics Revision

Assessment

Quiz

Other

9th - 12th Grade

Practice Problem

Easy

Created by

Joanne Arneil

Used 56+ times

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21 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Inflation is…

The annualized percentage change in a general price index, usually the consumer price index, over time.
Inflation is a sustained increase in the general price level of goods and services in an economy over a period of time.

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Inflation causes a persons real income to rise

true
false

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Those on fixed incomes will be vulnerable to rising inflation

true
false

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Savers and lenders benefit from inflation

true
false

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

As a consequence of inflation workers may demand higher wages

true
false

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Exports become more competitive because of inflation

true
false

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Firms tend to invest more in times of rising inflation

true
false

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