Inflation

Inflation

9th - 12th Grade

10 Qs

quiz-placeholder

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Inflation

Inflation

Assessment

Quiz

Social Studies

9th - 12th Grade

Medium

Created by

Benjamin Fenton

Used 17+ times

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10 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Inflation is best defined as an increase in ______

the value of money

the average level of prices

the price of one good

the purchasing power of money

2.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

In the U.S., inflation is measured with a statistic called CPI, which stands for ______.

Consumption Price Inflation

Consumer Price Index

Collusive Purchasing Index

Customer Power Inflation

3.

FILL IN THE BLANK QUESTION

1 min • 1 pt

Suppose the "market basket" of goods and services used to calculate CPI had a weighted cost of $4,000 in the base period. This year, that same basket has a weighted cost of $8,000. What is this year's CPI? (There should be no symbols in the answer; just write the number)

4.

FILL IN THE BLANK QUESTION

1 min • 1 pt

If CPI increased from 200 to 202 over the course of one year, the inflation rate that year was ___% (Just write the number)

5.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

In the long run, inflation is most directly caused by _____.

increases in population

improvements in technology

increases in the money supply

increases in life expectancy

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Extremely high inflation is known as __________.

megainflation

uberinflation

hyperinflation

superinflation

7.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Which of the following countries has NOT experienced hyperinflation? (at least not yet anyway...)

Zimbabwe

Germany

United States

Venezuela

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