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11th Grade

14 Qs

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Assessment

Quiz

Social Studies

11th Grade

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Created by

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14 questions

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1.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

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

Consumer price index

Aggregate supply

Producer price index

Aggregate demand

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

_________ is a decrease in the rate of inflation.

Hyperinflation

Disinflation

Deflation

Stagflation

3.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

__________ refers to a decrease in price level.

Hyperinflation

Disinflaation

Deflation

Stagflation

4.

MULTIPLE CHOICE QUESTION

45 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

5.

MULTIPLE CHOICE QUESTION

45 sec • 5 pts

What causes inflation?

inflation occurs when there's an increase in production costs OR when demand for products and services increases faster than supply

inflation occurs when there's an increase in production costs OR when demand for products and services increases slower than supply

inflation occurs when there's a slower increase in production costs OR when demand for products and services increases faster than supply

6.

MULTIPLE CHOICE QUESTION

45 sec • 5 pts

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

7.

MULTIPLE CHOICE QUESTION

45 sec • 5 pts

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

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