WorksheetsEconomics First Assessment
Total questions: 26
Worksheet time: 13mins
The persistent increase in the general price level of goods and services is
Inflation
Deflation
Stagflation
Hyperinflation
Most countries try to maintain an inflation rate of ______ per year.
One percent or less
Two to three percent
Four to five percent
Six to seven percent
The _______ considers the weighted averages of a group of consumer goods and services.
Consumer price index
Aggregate supply
Producer price index
Aggregate demand
What is inflation?
Increase general price level of goods and services
Increase price level from one private organisation
Decrease general price level of goods
Increase general price level of services
Most countries try to maintain an inflation rate of ______ per year.
One percent or less
Two to three percent
Four to five percent
Six to seven percent
The _______ considers the weighted averages of a group of consumer goods and services.
Consumer price index
Aggregate supply
Producer price index
Aggregate demand
What is inflation?
Increase general price level of goods and services
Increase price level from one private organisation
Decrease general price level of goods
Increase general price level of services
Main features of Inflation are:
Prices rise continuously over long period of time
Prices rise at a faster rate
Rise in prices is same for all goods and services
Rise in prices is not same for all goods and services
Index number that represents general change in wholesale prices of commodities is ____________.
Consumer Price Index
Wholesale Price Index
Food Basket
_______indicates a change in the general price level in the economy.
WPI
CPI
Food Basket
In India ______ is considered as the appropriate indicator of Inflation
CPI
WPI
GDP
CPI is also known as:
Cost of Living Index Number
Cost of Life Index Number
Retail Price Index Number
Price of Living Index Number
Consumer Price Index Number include the following:
Food
Housing
Clothing
Entertainment
Education
________ consist of Food Items of daily individual consumption.
CPI
WPI
GDP
Food Basket
In ________inflation prices rise about 2% annually.
Creeping
Walking
Running
Hyper
_____________ inflation is regarded as safe and essential for Economic Growth.
Running
Creeping
Hyper
Walking
__________ inflation affects the poor and middle class people adversely.
Creeping
Walking
Running
Hyper
________ inflation brings a total collapse of the Economy.
Creeping
Galloping
Running
Walking
In _________ Inflation prices rise very fast at double or triple rate.
Walking
Running
Hyper
Creeping
________ type of Inflation is a warning signal to the Government to control it.
Creeping
Running
Trotting
Hyper
In Running Inflation price rise is between 2 to 10 % per annum.
True
False
When prices rise rapidly at a rate of 10 to 20 % per annum, it is called Running Inflation.
True
False
