Inflation

Flashcard
•
Social Studies
•
12th Grade
•
Hard
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21 questions
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1.
FLASHCARD QUESTION
Front
The rate of inflation is most commonly measured by use of: a price deflator, the GDP deflator, the consumer price index, all of the above
Back
the consumer price index
2.
FLASHCARD QUESTION
Front
The consumer price index measures
Back
the cost of buying a fixed basket of goods and services, and calculating how this cost changes from year to year
3.
FLASHCARD QUESTION
Front
An increase in aggregate demand is likely to lead to
Back
demand-pull inflation
4.
FLASHCARD QUESTION
Front
Demand-pull inflation and cost-push inflation differ in that
Back
demand-pull leads to higher real GDP and cost-push to lower real GDP
5.
FLASHCARD QUESTION
Front
What is inflation?
Back
Inflation is an economic term that describes a general increase in prices 📈 and a fall in the purchasing power of money 📉.
6.
FLASHCARD QUESTION
Front
A little inflation is normal and even good for a healthy economy. Inflation becomes a problem when it grows too quickly.
Back
True
7.
FLASHCARD QUESTION
Front
What causes inflation?
Back
inflation occurs when there's an increase in production costs OR when demand for products and services increases faster than supply
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