ib econs chapter 20
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35 questions
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1.
MULTIPLE CHOICE QUESTION
3 mins • 1 pt
What is inflation?
2.
MULTIPLE CHOICE QUESTION
3 mins • 1 pt
How is the inflation rate typically measured?
3.
MULTIPLE CHOICE QUESTION
3 mins • 1 pt
In the CPI, what does the base year index number represent?
4.
MULTIPLE CHOICE QUESTION
3 mins • 1 pt
If the CPI increases from 120 to 132, what is the inflation rate?
5.
MULTIPLE CHOICE QUESTION
3 mins • 1 pt
What is the purpose of using statistical weights in CPI?
6.
MULTIPLE CHOICE QUESTION
3 mins • 1 pt
In a weighted CPI calculation, if the price of a product with a higher weight increases, how does it affect the CPI?
7.
MULTIPLE CHOICE QUESTION
3 mins • 1 pt
Calculate the inflation rate between 2019 (CPI 110) and 2020 (CPI 122.5).
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