Inflation and Unemployment

Inflation and Unemployment

12th Grade

21 Qs

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Assessment

Quiz

Social Studies

12th Grade

Practice Problem

Medium

Created by

Donald Weir

Used 1K+ times

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21 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Inflation can best be defined as...

A general increase in prices.

An increase in prices of key items purchased by consumers.

The increase in the value of fiat money

The printing of too much paper money.

2.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Inflation is most likely to occur during which phase of the business cycle

Expansion

Contraction

3.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

This type of inflation occurs when an increase in the in production costs are passed on to the consumer.

Supply Inflation

Cost Push Inflation

Imported Inflation

Demand Pull Inflation

4.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

This type of inflation occurs when the demand for products is greater that the supply of products.

Cost push inflation

Demand pull inflation

Divisional inflation

Structural inflation

5.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

What causes cost push inflation

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

6.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

When inflation is high the _______________of the dollar decreases

cost value
purchasing power
importance
validity

7.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Who does Inflation hurt?

People with a fixed income

Savers

Money Lenders at fixed interest rates

All of the above

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