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Inflation and Bubbles Quiz

Authored by Collin Ludlow-Mattson

Social Studies

9th - 12th Grade

Used 1+ times

Inflation and Bubbles Quiz
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10 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the main effect of inflation on your income?

It increases your salary automatically

It reduces your purchasing power

It increases the number of goods you can buy

It lowers prices over time

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does “real” price mean in economics?

The price you think is fair

The current market price

The original price of an item

The price adjusted for inflation

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does CPI stand for?

Consumer Price Index

Cost Percentage Inflation

Consumer Price Increase

Current Product Inflation

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is demand-pull inflation caused by?

A drop in interest rates

Too much money chasing too few goods

High production costs

A decrease in demand

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What causes cost-push inflation?

Increased worker productivity

Higher costs to produce goods

Higher taxes on luxury items

Falling oil prices

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Why is deflation bad for the economy?

It raises people's wages

It causes higher taxes

It encourages more spending

It reduces consumer spending and can lead to job losses

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What happened during the housing bubble in the early 2000s?

Home prices stayed stable

Home prices rose quickly due to speculation

Fewer people bought homes

Interest rates were extremely high

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