Economics 14 Practice Quiz

The _______ considers the weighted averages of a group of consumer goods and services.

• Consumer price index

• Aggregate supply

• Producer price index

• Aggregate demand

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

In a country that has a low rate of inflation is that a good economy or a bad economy?

• Good economy

• Bad economy

An increase in the general price level of all goods and services in the economy- everything we buy and consume is the definition of?

• purchase price inflation

• Buyer price inflation

• Customer price inflation

• Consumer price inflation

What is CPI?

• Consumer price index

• Costumer pay index

• Consumer price Income

• Costumer pay income

Inflation is...

• A general decease in prices and rise in the purchasing value of money.

• A decrease in the cost of living.

• A general increase in prices and fall in the purchasing value of money.

• A decease price of goods and services

Tags

CCSS.7.RP.A.3

Demand-Pull inflation is...

• When price levels rise because of an imbalance in the aggregate supply and demand.

• When price levels decrease because of an imbalance in the aggregate supply an demand.

What is Cost-push inflation?

• The decrease prices of the factors of the production leads to decreased supply of these goods.

• The increase prices of the factors of the production leads to a decreased supply of these goods.

What is commonly described as "too much money chasing too few goods."

• Demand-pull inflation

• Cost-push inflation

Inflation caused by a rise in wage rates would be classified as..

• Demand pull

• Demand push

• Cost push

• Cost pull