Inflation can best be defined as...
Inflation and Unemployment

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Social Studies
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12th Grade
•
Hard
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1.
FLASHCARD QUESTION
Front
Back
A general increase in prices.
2.
FLASHCARD QUESTION
Front
Inflation is most likely to occur during which phase of the business cycle?
Back
Expansion
3.
FLASHCARD QUESTION
Front
This type of inflation occurs when an increase in the in production costs are passed on to the consumer.
Back
Cost Push Inflation
4.
FLASHCARD QUESTION
Front
This type of inflation occurs when the demand for products is greater than the supply of products.
Back
Demand pull inflation
5.
FLASHCARD QUESTION
Front
What causes cost push inflation? Options: An increase in demand for goods and services, An increase in supply, A rise in production costs passed on to consumers, A fall in the price of imports
Back
A rise in production costs passed on to consumers
6.
FLASHCARD QUESTION
Front
When inflation is high the _______________ of the dollar decreases
Back
purchasing power
7.
FLASHCARD QUESTION
Front
Who does Inflation hurt?
Back
All of the above
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