AP Macro: CPI and Inflation

AP Macro: CPI and Inflation

11th - 12th Grade

50 Qs

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AP Macro: CPI and Inflation

AP Macro: CPI and Inflation

Assessment

Quiz

Social Studies

11th - 12th Grade

Practice Problem

Medium

Created by

Jason Lee

Used 355+ times

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50 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

GDP that is NOT adjusted for inflation

real GDP
nominal GDP
price level
net national product

2.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

GDP that is adjusted for inflation

real GDP
nominal GDP
price level
net national product

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The Consumer Price Index (CPI) is best used to determine

the Dow Jones Index.
the rate of inflation.
the unemployment rate.
currency exchange rates.

4.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

When Inflation occurs,

Price decreases in the economy
The purchasing power of money decreases in the economy
The dollar appreciates on foreign exchange markets
Basic necessities become cheaper

5.

MULTIPLE CHOICE QUESTION

3 mins • 1 pt

If the Price of the Market Basket in 2008 is $40 and the Price of the Market Basket in the base year is $20, what is the CPI for 2008?

2
60
80
200

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Did prices go up or down in 2009?
2008 CPI = 212
2009 CPI = 214

Up
Down

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Shawn just graduated from college. Why might Shawn benefit from rapid inflation in the economy?

Purchasing a home will be easier.
There will be more goods to purchase.
Businesses are more likely to hire during times of inflation.
Student loan repayments will not cost as much in real dollars.

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