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Inflation & GDP! Flashcards | StudBud
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Inflation & GDP!
Inflation & GDP!
20 terms
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StudBud Administration
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This is a brief review quiz on Inflation and GDP, it reviews basic terms and concepts.
Flashcards
20 cards
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Practice quiz
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Questions
20
Answers
1
Chris stands to be a ____ during inflation because his income can't adjust for rising costs
lender
winner
loser
borrower
2
This measures GDP in constant dollars; adjusts for inflation.
Nominal GDP
Real GDP
Normative GDP
Positive GDP
3
Malik has a 3.75% fixed mortgage rate and inflation is at 4.75% so he stands to be a _____.
Lender
Loser
Winner
Consumer
4
Inflation is measured by this - keeping track of changes in a fixed basket of goods + services
Nominal Income
Gross Domestic Product
Consumer Price Index
Real Income
5
Measures GDP in current dollars
Nominal GDP
Positive GDP
Normative GDP
Real GDP
6
This type of inflation is supply related; an increase in production costs drives up prices
Cost-Push Inflation
Nominal Inflation
Real Inflation
Demand-Pull Inflation
7
Someone with this type of raise stands to be a winner during inflation.
Real Income
Nominal Income
SODA: Services of Daily wage Adjustment
COLA: Cost of Living Adjustment
8
This is income as a stated dollar amount.
Real Income
Interest Income
Nominal Income
Cost of Living Adjustment
9
This part of the GDP equation includes all goods and services purchased by private households
Consumer
Investment
Net Exports
Government
10
Inflation and GDP are both examples of what?
Topics in Microeconomics
Types of income
Taxes
Economic Indicators
11
This part of the GDP calculation includes spending by all levels of gov't on goods and services
Government
Consumer
Net Exports
Investment
12
This part of the GDP equation includes purchases of capital goods to be used in production
Net Exports
Investment
Consumer
Government
13
Katie is saving $ in an account w/ an interest rate of 1% - stands to be a ___ during inflation
Borrower
Loser
Lender
Winner
14
This erodes the value of the dollar and the standard of living.
Interest rates
Bubble
Inflation
GDP
15
What does GDP stand for?
Gross Domestic Product
Generational Domestic Product
Generational Dichotomy Polling
Guaranteed Damages Policy
16
This part of GDP calc. = difference b/w foreign buyers of US goods & US buying foreign goods
Investment
Consumer
Government
Net Exports
17
This is like inflation for 1 thing; when costs spike in a specific market or for specific item
Cost-Push Inflation
Demand-Pull Inflation
Nominal Inflation
Bubble
18
C+I+G+NX is the equation for calculating what?
GDP
Nominal Inflation
Inflation
Consumer Price Index
19
This can be defined as a general rise in the level of prices.
GDP
Inflation
Macroeconomics
Consumer Price Index
20
This type of inflation occurs when total demand for goods rises faster than total output.
Cost-Push Inflation
Demand-Pull Inflation
Normative Inflation
Real Inflation
