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Economics Test Fourteen

Authored by Travis Declet

History

11th - 12th Grade

Used 2+ times

Economics Test Fourteen
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16 questions

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1.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

When inflation is high the _______________of the dollar decreases

cost value
purchasing power
importance
validity

2.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

If CPI goes from 100 to 300 and your salary goes from $100,000 to $200,000, what happened to your purchasing power?

Increase
Decrease
No change

3.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

What is inflation?

rise in all prices
rise in most prices
rise in some prices
rise in general prices

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

An index that measures the prices of a market basket of goods that typical consumers purchase.

Consumer Price Index
Federal Reserve
Bank
Deflation

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

6.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

Who is most likely to be hurt by inflation?

someone who borrowed money
a retiree on a fixed income
a business owner
the U.S. government

7.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

What 2 types of inflation are there?

demand pull and cost push
demand pull and supply glut
supply glut and demand side
supply inflation and demand inflation

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