Inflation
Quiz by Mark Stegall
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10 questions
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- Q1Which of the following groups would most likely gain from unanticipated inflation?Banks that have loaned all excess reserves at a fixed interest rateLandlords who own apartments in cities with rent controlsIndividuals who have borrowed money at fixed interest ratesIndividuals who have fixed retirement incomes30s
- Q2The consumer price index (CPI) is designed to measure changes in thespending patterns of urban consumers onlywholesale price of manufactured goodsspending patterns of all consumerscost of a select market basket of goods and services30s
- Q3Gala Land produces three final goods: bread, water, and fruit. The table above shows this year's output and price for each good. Calculate this year's nominal gross domestic product (GDP). Enter your answer as follows . $X,XXXUsers enter free textType an Answer30s
- Q4Identify #1 on the graphPeakFull EmploymentTroughRecession30s
- Q5Identify #4 on the graphFull EmploymentInflationRecoveryRecession30s
- Q6Identify #6 on the graphInflationRecessionUnemploymentFull Employment30s
- Q7Identify #7 on the graphRecessionUnemploymentRecoveryFull Employment30s
- Q8Based on the information in the table above, what is the unemployment rate for Country X? Enter your answer to the nearest whole number follow by the percent sign. i.e. X%Users enter free textType an Answer30s
- Q9When an economy is in equilibrium at potential gross domestic product, the actual unemployjent rate isequal to the cyclical rateequal to the natural rateless than the natural rategreater than the natural rate30s
- Q10Which of the following will be counted as unemployed by the United States Bureau of Labor StatisticsPersons who quit their previous jobs to stay at home to care for sick parentsPersons who quit their previous jobs to start their own businessesPersons who have given up looking for jobs after long searchesPersons who were fired from their previous jobs and are actively applying for work30s
