Inflation and CPI MACRO

Inflation and CPI MACRO

9th - 12th Grade

15 Qs

quiz-placeholder

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Inflation and CPI MACRO

Inflation and CPI MACRO

Assessment

Quiz

History

9th - 12th Grade

Practice Problem

Easy

Created by

Jennifer McCall

Used 18+ times

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15 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

15 mins • 1 pt

Media Image

Which of the following measures inflation?

Consumer Price Index (CPI)

Change in Product and Inflation (CPI)

Office of Management and Budget (OMB)

Congressional Budget Office (CBO)

2.

MULTIPLE CHOICE QUESTION

15 mins • 1 pt

Defined as the ups and downs of the economy (inflation rises during the expansion part of this).

Business cycle

Political socialization

Fiscal policy

Monetary policy

3.

MULTIPLE CHOICE QUESTION

15 mins • 1 pt

A general increase in prices is called

inflation

purchasing power

the CPI

a price index

4.

MULTIPLE CHOICE QUESTION

15 mins • 1 pt

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

5.

MULTIPLE CHOICE QUESTION

15 mins • 1 pt

The inflation rate is

the ability to buy goods or services

measured in fixed dollars

not an important measure to economists

the percentage change in prices over time

6.

MULTIPLE CHOICE QUESTION

15 mins • 1 pt

GDP that is adjusted for inflation

real GDP

nominal GDP

price level

net national product

7.

MULTIPLE CHOICE QUESTION

15 mins • 1 pt

GDP that is NOT adjusted for inflation

real GDP

nominal GDP

price level

net national product

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