
T2 Wk 5 - Macro Objectives
Quiz
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Other
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12th Grade
•
Practice Problem
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Easy
Mitchell Simpson
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5 questions
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1.
MULTIPLE CHOICE QUESTION
5 mins • 1 pt
Outline the difference between disinflation and deflation
Disinflation is a decrease in the rate of inflation, but prices of goods and services are still increasing.
Deflation is a negative rate of inflation. Prices of goods and services are decreasing.
Disinflation is a negative rate of inflation. Prices of goods and services are decreasing.
Deflation is a decrease in the rate of inflation, but prices of goods and services are still increasing.
Disinflation is an acceleration in the inflation rate.
Deflation is a deceleration in the inflation rate.
Disinflation is prices of goods and services is decreasing but slower than the previous period.
Deflation is an increase in the prices of goods and services, but slower than the previous period.
2.
MULTIPLE CHOICE QUESTION
5 mins • 1 pt
The two causes of inflation
Cost-Push (caused by costs of production increasing). SRAS shifts left.
Demand Pull (caused by an AD component increasing. AD shifts right).
Cost-Pull (caused by costs of production decreasing). SRAS shifts right.
Demand Push (caused by an AD component increasing. AD shifts right).
Cost-Pull (caused by costs of production increasing). SRAS shifts left.
Demand Pull (caused by an AD component decreasing. AD shifts left).
Cost-Push (caused by costs of production decreasing). SRAS shifts right.
Demand Push (caused by an AD component increasing. AD shifts left)
3.
MULTIPLE CHOICE QUESTION
5 mins • 1 pt
Types of Unemployment
Structural - skills mismatch
Frictional - In between jobs and the labour force
Seasonal - labour demand fluctuates based on weather and time of year.
Cyclical - labour demand and economic activity.
Structural - In between jobs and the labour force
Frictional - labour demand fluctuates based on weather and time of year.
Seasonal - Profits and economic activity.
Cyclical -
Structural - labour demand and economic activity.
Frictional - skills mismatch
Seasonal - labour demand fluctuates based on weather and time of year.
Cyclical - Profits lower creating unemployment
4.
MULTIPLE CHOICE QUESTION
5 mins • 1 pt
Business Cycle Phases
Expansion
Contraction
Downturn
Recovery
Boom
Inflationary Gap
Recessionary Gap
Full Employment
Peak
Trough
Downswing
Slowdown
5.
MULTIPLE CHOICE QUESTION
5 mins • 1 pt
Analyse the following data
Downturn caused by a decrease in AD from 2021-2023
Cost Push Inflation, SRAS would shift left across 2021-2023
Economic Boom caused by AD increasing 2021-2023. Demand Pull Inflation
Recovery, AD decreases on the AD/AS model from 2021-2023
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