Font size
WorksheetsYear 10 Inflation
Total questions: 10
Worksheet time: 6mins
Inflation can be defined as (pick the best answer)
persistent and appreciable rise in the general level of prices over time
increase in prices
persistent and depreciating decline in the general level of prices over time
persistent and appreciable rise in the some prices over time
The target rate for Inflation in Australia is:
(a)
How have you enjoyed Week 2 of Economics?
Very very much
Very much
Somewhat
Not much at all
Real prices are adjusted for_____________. Nominal prices are not.
economic growth
inflation
externalities
changing prices
What can cause inflation? (choose the best answer)
Prices just rise over time
Demand inflation - People's demand increasing
People demanding more, costs of production rising and governments printing money.
People demanding less, costs of production rising and governments not printing money.
What statement fits the cause of demand inflation:
Too much money chasing too few goods
Too little money chasing too few goods
Some money chasing some goods
Too much money chasing too many goods
Who are inflation winners?
High income earners, borrowers and importers
High income earners, bank savers and importers
High income earners, borrowers and exporters
Low income earners, borrowers and importers
Who are the inflation losers?
Low income earners, Bank savers and exporters
High income earners, Bank savers and exporters
Low income earners, borrowers and exporters
Low income earners, Bank savers and importers
An index number is a figure representing price or quantity based on a (a) value.
If the CPI in 2019 was 108.5 and in 2018 it was 105.9, what was the inflation rate for 2019? Round to 2 decimal places.
2.46
2.45
2.39
2.43
