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Inflation Quiz 3 (25 MCQs)

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1. How does nominal GDP differ from Real GDP?
2. For the country of Mordor the Nominal Gross Domestic product was $ 8000B. After comparing the inflation rate to the year prior the GDP deflator was 125. What was the real gross domestic product for Mordor?
3. Select all those who may "win" or "benefit" because of inflation:
4. Fill in the blank:When inflation is high the _____ of the pound decreases.
5. This group of people suffer when inflation occurs:
6. What is not a possible cause of cost-push inflation? OCT/NOV 2006 01
7. Which variable from the quantity equation is replaced in income equation:
8. What is the average of all prices in the economy called?
9. Which country's inflation rate is expected to exceed 1, 000, 000% this year?
10. Three components of Fiscal policy in the Philippines
11. To manage inflation, government uses macroeconomic policy including:
12. Purchasing a large quantity of scarce commodity for one's self is called _____
13. The _____ considers the weighted averages of a group of consumer goods and services. Think of it as a shopping cart where the measure the increase in prices for all the items.
14. Each month your rent increases so you can't set up an online automatic payment. You must pay cash and deliver the rent to your landlord in person.
15. What must be true if an economy is experiencing inflation?
16. If the rate of inflation rises above their target level what does the Central Bank do?
17. Using a range of goods and services that reflects a typical household
18. A healthy inflation rate is between _____
19. The following is the causes of inflation EXCEPT
20. The impacts of cost push inflation are
21. A general reduction in overall prices.
22. Which of the following variables is not included into the quantity equation:
23. If the old CPI of a product is 200 and the new CPI is 100, what is the percent change?
24. Rick owns 70 shares of DuPere stock for which he paid a total of $ 4472. He sold the stock for $ 84 per share and paid a sales commission of $ 50. What was his profit or loss on the investment?
25. The economy is in deficit when _____
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