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Inflation Quiz 4 (25 MCQs)

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1. What is GDP an economic indicator for?
2. _____ occurs in the economy when unemployment and inflation are both high.Disinflation
3. A Car is purchased for $ 24000, it's value will depreciate by 15% per year. What is the value of this car after 7 years indexed for inflation given that the average inflation rate over this period is 2.1%? [1 pt]
4. Inflation is usually higher during what part of the Business Cycle?
5. If a change in income appears permanent such as being promoted to a secure and high paying job, _____
6. A very rapid increase in the level of prices over time
7. Inflation causes the purchasing power of the dollar to _____
8. If an expense can be eliminated from your budget to save money, it is considered a _____
9. Menu costs in relation to inflation refer to:
10. Bobby's income increased from $ 50, 000 last year to $ 55, 000 this. During the same time the CPI went from 155 to 165. What was his real income change?
11. Because interest rates increased, businesses cut back on spending for new machinery. How will this affect GDP?
12. In August 2019. the CPI was
13. Rex owns 170 shares of Crown Inc., for which he paid 28.875 per share. If the company pays dividends of $ 1.45 per share, what is the annual yield to the nearest hundredth of a percent?
14. According to the article, to slow inflation, the Federal Reserve sometimes _____
15. What is the fisher effect?
16. Which is the central idea of section 5?
17. 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 mark-up percentage in this problem/ situation?
18. What is the current inflation rate in Australia
19. What is defined as a rate at which the general price level is increasing
20. An economy is experiencing accelerating cost-push inflation. Which group is likely to be least concerned by this? OCT/NOV 2015 12
21. Having access to a variety of goods and services and at competitive prices allows the consumer the right to _____
22. For the country of Mordor the Nominal Gross Domestic product was $ 8, 000 B. After comparing the inflation rate to the year prior the GDP deflator was 125. What was the inflation rate?
23. The rise in the average level of prices expressed as a percentage
24. When there is inflation it affects
25. What would be likely to decrease inflation in an economy? OCT/NOV 2007 01
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