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Lesson 5 Macro: Inflation Flashcards | StudBud

Explore/Lesson 5 Macro: Inflation

Lesson 5 Macro: Inflation

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a quiz about inflation

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Questions 10

Answers

1
Inflation is
amount of goods and services in an economy
percentage of the labor force without a job
general fall in prices
general rise in prices
2
A problem with inflation is
it lessens the purchasing power of money
prices are too small for profits to be made
it lessens gross domestic product
if causes unemployment to rise
3
Inflation is measured using
Consumer Price Index
Gross Domestic Product
Consumer Confidence
Unemployment Rate
Balance of Trade
Producer Price Index
4
The cost of crude oil increases & gasoline increases in price. What is the cause of inflation?
neither
demand pull
cost push
both
5
The formula for calculating percent change
New-Old/Old x 100
New-New/Old x 100
Old-Old/New x 100
Old-New/New x 100
6
The consumer price index is calculated using
gross domestic product
the shopping cart
internet polls
unemployment rate
electronically by manufacturers
the market basket
7
Purchasing power is how much of a good or service money will buy.
True
False
8
This is a graph of which cause of inflation?
demand pull
both
cost push
neither
9
Purchasing power is the
dollar value of all final goods & services in the economy
amount of goods and services money will actually buy
the ups and downs of the economy
% of the labor force without a job actively seeking one
10
The market basket top categories are
recreation, education, housing
apparel, recreation, medical care
housing, transportation, food and beverages
education, transportation, housing