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Macroeconomics - Inflation

Authored by Andrea Pennington

Social Studies

7th Grade

10 Questions

Used 20+ times

Macroeconomics - Inflation
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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A general, sustained upward movement of prices for goods and services in an economy.

Interest

Inflation

Purchasing Power

Market Basket

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which statement is true about inflation?

is a concern for the nation's economy but not for individuals

affects individual consumer in different ways

is a concern for individuals but not for the overall economy

causes the value of a dollar to increase over time

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The Federal Reserve...

does not monitor the inflation rate

seeks to achieve an inflation rate above 5%

seeks to achieve inflation that averages 2% over time

seeks to achieve an inflation target of 0 %

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

All consumers experience the same inflation rate becasue everyone buys the same market basket.

True

False

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

When personal incomes increase at the same rate as the inflation rate, purchasing power increases.

True

False

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Inflation only affects consumers who have high incomes.

True

False

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Inflation is important to cosider when revising a personal budget.

True

False

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