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Inflation Quiz 2 (25 MCQs)

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1. What does GDP mean?
2. What is the result from "Stagflation" ?
3. What would increase both demand-pull and cost-push inflation? OCT/NOV 2013 12
4. A general fall in the level of prices over time
5. What may cause cost-push inflation? MAY/JUNE 2010 11
6. A peak in business cycle is indicated by _____ unemployment and _____ output.
7. Having a desire to possess or do something is called a/an _____
8. Price stability occurs when
9. What are the two (2) main impacts of inflation?
10. _____ is when the the buying power of money goes down and prices go up.
11. Which of the following is the proposition that changes in the money supply do not affect real variables?
12. Inflation usually increases the most during what part of the Business Cycle?
13. The country of Galaland produces the following products:2000Bananas-10 at $ 3Apples-10 at $ 2Bread-15 at $ 82001Bananas-10 at $ 5Apples-10 at $ 2Bread-20 at $ 8What is the real GDP for Galaland adjusted for inflation in 2001?
14. Which economic change might contribute to both cost-push and demand-pull inflation? OCT/ NOV 2014 12
15. Denise purchased a $ 1000 bond at the quoted price of 89 and 3/4. The bond pays interest at a rate of 4 and 3/4%. What is the annual yield?
16. What cause cost-push inflation?
17. Mild inflation is characterized by an increase in prices for _____ per year. a) 1-3%+b) 5-10% c) 15-20%d) 30-50%
18. Fisher effect is:
19. Inflation caused by a rise in wage rates would be classified as..
20. A general increase in prices is called _____
21. The total dollar value of goods and services produced by a nation, in a year
22. Goods and services which are purchased in larger amounts have a larger impact on the price index calculation
23. Changes in technology often eliminate one type of job. This represent what type of unemployment?
24. Mr. Kimoon wants to sell different styles of cap for this coming summer season. He was able to buy 30 caps from the supplier. He wants to use 65% mark-up. What is the quantity in this problem/ situation?
25. Inflation is measured using the CPI index. This stands for:
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