Macro Unit 2- Practice Questions #2

Macro Unit 2- Practice Questions #2

Assessment

Interactive Video

Business

11th Grade - University

Practice Problem

Hard

Created by

Wayground Content

FREE Resource

The video tutorial covers multiple choice questions on economic concepts such as the Consumer Price Index (CPI), inflation, and the GDP deflator. It explains how these indices are calculated and their implications on purchasing power and economic growth. The tutorial also discusses the quantity theory of money and critiques common economic measures.

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7 questions

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1.

OPEN ENDED QUESTION

3 mins • 1 pt

What is the Consumer Price Index (CPI) and how does it measure price changes over time?

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2.

OPEN ENDED QUESTION

3 mins • 1 pt

Explain how inflation affects the purchasing power of a currency.

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3.

OPEN ENDED QUESTION

3 mins • 1 pt

Define disinflation and how it differs from deflation.

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4.

OPEN ENDED QUESTION

3 mins • 1 pt

What is the formula for calculating the Consumer Price Index (CPI)?

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5.

OPEN ENDED QUESTION

3 mins • 1 pt

Describe the Quantity Theory of Money and its implications for nominal GDP.

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6.

OPEN ENDED QUESTION

3 mins • 1 pt

What is the GDP deflator and how is it calculated?

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7.

OPEN ENDED QUESTION

3 mins • 1 pt

Discuss the criticisms of how the government measures real GDP.

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