Inflation, CPI, and the Market basket
Authored by Brian DeRath
Social Studies
9th - 11th Grade
Used 113+ times
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14 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
When Inflation occurs,
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
__________ are common products that consumers buy in a month.(used for CPI)
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Money loses its value when it
There is too much of it in the economy
There is not enough of it in the economy
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Someone buys a house with a 30 year fixed rate loan
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A _______________ is a hypothetical set of consumer purchases of goods and services.
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which explanation best explains the effects of inflation?
Consumers have more products to choose from.
Inflation erodes (take away from) the purchasing power of the dollar.
Inflation results in lower prices.
Demand increases because prices are higher.
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
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
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