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Inflation Basics Flashcards | StudBud
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Inflation Basics
Inflation Basics
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A short economics quiz on the basics of inflation.
Flashcards
10 cards
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Practice quiz
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Questions
10
Answers
1
The opposite of inflation, a lowering of average price levels.
Demand Pull
Hyperinflation
Deflation
Cost Push
2
Inflation is measured at the BLS by using a tool called
Consumer Price Index
Core Inflation
Unemployment Rate
Price Fixes
3
Which group of persons is most hurt by inflation?
Government Workers
Union Members
Immigrants
Fixed Income Persons
4
An automatic increase in a person's income based on the inflation rate.
Cost Push
Boost in Pay
COLA
Price Hike
5
Current Inflation levels show prices increasing on the average around __________%.
3%
under 2%
5%
10%
6
Inflation is defined as a rise in _____________ price levels.
Overall
All
Necessities
Certain Product
7
Inflation caused by too much money chasing too few goods.
Cost Push Inflation
Hyperinflation
Chronic Inflation
Demand Pull Inflation
8
Redesigning store packaging to be smaller but keeping prices the same actually is a
price decrease.
just a way to be efficient
price increase.
environmentally sensitive.
9
Inflation caused by rising costs of production increasing final costs.
HyperInflation
Cost Push Inflation
Chronic Inflation
Demand Pull Inflation
10
Why are food and energy removed from the CPI to create the Core CPI?
A Necessity
Too expensive
Too volatile
Hard to measure
