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Inflation & GDP - CFU Flashcards | StudBud
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Inflation & GDP - CFU
Inflation & GDP - CFU
20 terms
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This is a brief review quiz on Inflation and GDP, it reviews basic terms and concepts. Business 101
Flashcards
20 cards
F
Practice quiz
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Host live
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Questions
20
Answers
1
C+I+G+(X-M) is the equation for calculating ...
GDP
Consumer Price Index
Inflation
Economic Indicators
2
This can be defined as a general rise in the level of prices.
Macroeconomics
GDP
Consumer Price Index
Inflation
3
The C in the GDP formula stands for
Counting
Cupcakes
Consumption spending
Consumer
4
Demand-led inflation means
prices go up due to increased demand
supply and demand are at an equilibrium
prices go down due to an increase in supply
prices go down due to a decrease in supply
5
This part of the GDP calculation includes public spending on infrastructure improvements
Net Exports
Consumer
Investment
Government
6
This part of the GDP equation includes business purchases of machinery to be used in production
Net Exports
Consumer
Investment
Government
7
This erodes the value of the dollar and the standard of living.
Inflation
Bubble
GDP
Interest rates
8
This part of the GDP equation includes all goods and services purchased by private households
Consumer Spending
Investment
Net Exports
Government
9
This type of inflation occurs when total demand for goods rises faster than total output.
Hyperinflation
Cost-Push Inflation
Real Inflation
Demand-Led Inflation
10
The difference between foreign buyers of Australian goods & Australian's buying foreign goods
Consumer
Investment
Government
Net Exports
11
Which of the following is not a cause for inflation
Government Spending
.
increase in demand (demand-led)
Increase in cost of production (Cost-push)
12
What does GDP stand for?
Generational Democratic Polling
Gross Domestic Product
Guaranteed Damages Policy
Generational Domestic Product
13
Consumers are encouraged to spend more money could cause
demand-led inflation
False
True
14
Inflation and GDP are both examples of what?
Taxes
Types of income
Topics in Microeconomics
Economic Indicators
15
High inflation means:
The value of money decreases
The value of money increases
The amount of money increases
The amount of money decreases
16
Due to a tax cut, consumers are choosing to buy a property. How will this affect GDP?
Consumer spending increases, GDP increases
It wouldnt
Investment spending increases, GDP increases
Consumer spending increases. GDP decreases
17
The X and the M in the GDP formula stand for:
X = Exports and M = Imports
X = Exports and M = Money
X = Expense and M = Imagination
X = Ex and M = Men
18
Inflation is measured by the
Gross Domestic Product
Random price increases
Consumer Price Index
Income changes
19
The Consumer Price Index (CPI) is calculated by
Surveying customers
Comparing the price of houses from one year to another
Comparing the price of a standard basket of goods from one year to another
Comparing prices between supermarkets
20
GDP is an indicator of
Cost of Living
Prices
Economic Growth
Environmental Growth
