
7.1 Inflation Quiz
Passage
•
Other
•
11th Grade
•
Practice Problem
•
Easy
Leanne Magree
Used 2+ times
FREE Resource
14 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is inflation?
A) A decrease in the general price level of goods and services
B) An increase in the general price level of goods and services
C) A decrease in the supply of goods and services
D) An increase in the supply of goods and services
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Why is price stability important?
A) It encourages businesses to invest and expand production
B) It discourages businesses from investing
C) It has no impact on economic growth
D) It only affects the prices of luxury goods
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What does CPI stand for?
A) Consumer Price Index
B) Consumer Product Index
C) Consumer Price Information
D) Consumer Product Information
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What does the CPI measure?
A) The level of prices of a selection of consumer goods and services over time
B) The total production of goods and services in an economy
C) The employment rate in an economy
D) The total income of consumers in an economy
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which agency in Australia measures the CPI?
A) Australian Bureau of Statistics
B) Australian Bureau of Economics
C) Australian Bureau of Finance
D) Australian Bureau of Commerce
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is included in the "market basket" used to calculate the CPI?
A) Food, clothing, housing, transport, health, and education
B) Only food and clothing
C) Only housing and transport
D) Only health and education
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
In the example provided, what are the two products used to calculate the CPI?
A) Bread and milk
B) Bread and butter
C) Milk and cheese
D) Bread and eggs
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