Economic Indicators Quizizz

The rate of inflation is most commonly measured by use of

• a price deflator

• the GDP deflator

• the consumer price index

• all of the above

The consumer price index measures 

• the cost of buying a fixed basket of goods and services, and calculating how this cost changes from year to year

• the cost of buying a basket of goods and services, which changes from year to year depending on the price level

• the cost of buying a basket of goods and services, which changes from year to year depending on consumer tastes and preferences

• all of the above, depending on what the CPI is trying to measure

The redistribution effects of a high rate of inflation may involve losses for _____________________ and gains for _____________________.

• lenders/borrows

• borrowers/savers

• borrowers/lenders

• savers/holders of cash

Which is the following is included in GDP?

• an intermediate good

• a service produced and used in another country

• a fish that you catch and eat yourself

• a fish that you buy at a store

Inflation reduced people's purchasing power because

• the same amount of money buys ore goods and services

• the same amount of money buys fewer goods and services

• the market basket has to be changed every year

• there is not enough money in the economy

In which part of the GDP calculation does this fit?

You spend $15 at AMC to see the latest Avengers movie.

• Consumer spending

• Government spending

• Investment spending

• Net exports

In which part of the GDP calculation does this fit?

The US military spends $5 billion on five new helicopters.

• Consumer spending

• Government spending

• Investment spending

• Net exports

In which part of the GDP calculation does this fit?

The local taxi service purchases new vehicles for the

company.

• Consumer spending

• Government spending

• Investment spending

• Net exports

In which part of the GDP calculation does this fit?

Australia exported $6 billion worth of goods in 2018, but imported $10 billion in goods.

• Consumer spending

• Government spending

• Investment spending

• Net exports

Who is most likely to be hurt by inflation?

• someone who borrowed money
• a retiree on a fixed income
• a business owner
• the U.S. government