Inflation Chap 13 Lesson 2
Quiz by Peter Duesterbeck
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10 questions
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- Q1a period of stagnant economic growth coupled with inflationdeflationstagflationinflationregulation30s
- Q2a decrease in the general level of prices of goods and servicesaggravationbargain basementintegrationdeflation30s
- Q3a representative collection of goods and services used to compile a price indexmarket basketconsumer likingcompositionsprig nasal30s
- Q4persons or institutions that owe moneydebtorscreditorsbanking magnetsloan barons30s
- Q5persons or institutions to whom money is owedcreditorscrunchiesdebtorsfleabags30s
- Q6When the general level of prices rises, the economy is experiencingdeflationconstructionstaglationinflation30s
- Q7Which of the following describes demand-pull inflation?rising costs in energy which cause higher prices of productsthe last stage before monetary collapsea 1 to 3 percent rise in prices over the course of a yearthe economy cannot produce quickly enough for all sectors, and shortages occur30s
- Q8What is the first step in constructing a price index?divide the cost of every market basket by the base-year market basket costfind the average price of each item in the market basketselect a representative selection of commonly purchased goods and servicessample prices of items in stores across the country30s
- Q9Inflation characterized by rising input costs, especially energy and organized labor, which drive up the cost of products for manufacturers is calledhyperinflationcreeping inflationdemand-pull inflationcost-push inflation30s
- Q10Which of the following is the index used to measure changes in gross domestic product?producer price index (PPI)implicit GDP price deflatorconsumer price index (CPI)wage-price spiral30s