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Crash Course Inflation

Crash Course Inflation

Assessment

Interactive Video

History

9th - 12th Grade

Medium

Created by

Brice Harrington

Used 1+ times

FREE Resource

8 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does "purchasing power" refer to?

The total amount of money an individual earns in a year.

The amount of physical goods and services that can be bought with a given amount of money.

The ability of a country to influence global markets.

The rate at which prices increase over time.

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

How do economists calculate the Consumer Price Index (CPI)?

By tracking the total national income and dividing it by the population.

By comparing the cost of a fixed "consumer basket" of goods and services in different years to a base year.

By measuring the average change in wages across all industries.

By surveying businesses about their production costs and profit margins.

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the difference between a "real" price and a "nominal" price?

A real price is the current market price, while a nominal price is the price after taxes.

A real price has been adjusted for inflation, while a nominal price has not.

A real price refers to physical goods, while a nominal price refers to services.

A real price is an estimated value, while a nominal price is the exact value.

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a limitation of using a traditional Consumer Price Index (CPI)?

It only accounts for the prices of luxury goods, not everyday necessities.

It does not consider the impact of global economic events.

It doesn't adjust for new products or increases in product quality over time.

It is only calculated once every ten years, making it outdated.

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is demand-pull inflation?

A situation where production costs increase, leading to higher prices.

Too much money chasing too few goods.

A decrease in the availability of productive resources.

When consumers stop buying goods, causing prices to fall.

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a primary cause of cost-push inflation?

An increase in consumer demand for goods.

A decrease in the availability of an important productive resource.

Government printing too much money.

Speculation in the housing market.

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does the acronym NINJA stand for in the context of loans?

New Investment, Joint Assets.

No Interest, No Job, No Assets.

National Income, Job Assistance.

Non-performing, Investment, Junior Assets.

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