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CHAPTER 4B: INFLATION

Authored by Hiển Phan

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University

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CHAPTER 4B: INFLATION
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14 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The general price level of the economy is?

Price index

Inflation rate

Both statements above are correct

Both statements above are incorrect

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Based on the inflation rate, into which types can inflation be classified?

Moderate inflation

Hyperinflation

Galloping inflation

All three statements are correct

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Economists believe that:

There is a short-term trade-off between inflation and unemployment, but no trade-off in the long run

There is no trade-off between inflation and unemployment

There is a trade-off between inflation and unemployment

All of the above statements are correct

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following can cause inflation?

All of the above are correct

Wage increases and rising prices of production factors

Increase in money supply

Increase in government spending

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

If the inflation rate increases by 8% and the nominal interest rate increases by 6%, then the real interest rate:

Decreases by 14%

Decreases by 2%

Increases by 14%

Increases by 2%

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

When the actual inflation rate is lower than the expected inflation rate:

Lenders lose

Lenders benefit

Both statements above are incorrect

Borrowers benefit

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The Consumer Price Index (CPI) in 2016 was 140. What does this mean?

The inflation rate in 2016 was 40%

Prices of goods in 2016 increased by 40% compared to the base year

Both statements above are incorrect

Prices of goods in 2016 increased by 40% compared to 2015

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