Unemployment & Inflation

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

• Consumer price index

• Aggregate supply

• Producer price index

• Aggregate demand

__________ refers to a decrease in price level.

• Hyperinflation

• Disinflaation

• Deflation

• Stagflation

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

What is inflation?

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

Demand-Pull inflation can be describes as too many _________ chasing too few __________

• jobs, workers
• consumers, producers
• dollars, goods

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

What the definition of deflation? 

• decrease in the average price of goods and services
• occurs when the price of goods and services rise
• increase in prices
• I don't know

GDP that is adjusted for inflation

• real GDP
• nominal GDP
• price level
• net national product

If aggregate demand rises faster than producers can supply goods services

• demand-pull inflation
• cost-push inflation
• inflation

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