Review of Chapter 24

Review of Chapter 24

University

11 Qs

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Review of Chapter 24

Review of Chapter 24

Assessment

Quiz

Business

University

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Created by

Shereen Bacheer

Used 4+ times

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11 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

If the price of petrol rises

Only CPI will rise

Only GDP Deflator will rise

Both CPI and GDP deflator will rise

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

If a local manufacturer raises the price of hydraulic cleaners (for industrial use)

Only CPI will rise

Only GDP Deflator will rise

Both CPI and GDP deflator will rise

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

If Honda raises the price of their cars in Abu Dhabi

Only CPI will rise

Only GDP Deflator will rise

Both CPI and GDP deflator will rise

4.

OPEN ENDED QUESTION

3 mins • 1 pt

If all I care about is purchasing power, when did I make more money? $100,000 in 2000 or $147,000 in 2013? CPI in 2000 = 89 and CPI in 2013 = 120

Evaluate responses using AI:

OFF

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Inflation can be measured using either the GDP deflator or the consumer price index

True

False

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

If the consumer price index is 120 in 2009 and 139.2 in 2010, then the rate of inflation for 2010 is 39.2 percent

True

False

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The consumer price index is

not very useful as a measure of the cost of living

a perfect measure of the cost of living.

a useful measure, but not a perfect measure, of the cost of living

not used as a measure of the cost of living

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