What is the most likely cause of cost-push inflation in an economy?
A an increase in the exchange rate
B an increase in the money supply
C an increase in the prices of imports
D an increase in the rate of income tax
WHALES AS Economics: Inflation
Quiz
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Fun
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12th Grade
•
Hard
Mohammad Husain
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10 questions
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1.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
What is the most likely cause of cost-push inflation in an economy?
A an increase in the exchange rate
B an increase in the money supply
C an increase in the prices of imports
D an increase in the rate of income tax
A
B
C
D
2.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
The table shows the consumer price index (CPI) for a country. What can be concluded from the table?
A Prices fell continuously from year 2 to year 5.
B Prices rose between year 1 and year 5.
C Prices rose only from year 1 to year 2.
D Prices were at their highest in year 5.
A
B
C
D
3.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
The table shows information about a country whose consumers spend their income on three commodities, P, Q and R. Between year 1 and year 2 how has the general level of prices changed?
A It has risen by 40%.
B It has risen by 10%.
C It has remained the same.
D It has fallen by 5%.
A
B
C
D
4.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
The UK inflation rate as measured by the Consumer Price Index was 5.2% in September 2011. In June 2014 the UK inflation rate as measured by the Consumer Price Index was 1.6%. What can definitely be concluded about the period September 2011 to June 2014?
A Fixed income earners had increased purchasing power.
B Prices were falling.
C The rate of price increases was slowing.
D The real rate of interest became positive.
A
B
C
D
5.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
If a country has a surplus in its balance of payments then its money supply is likely to
A fall because more of its goods were purchased by foreign consumers than by consumers at home.
B increase because the foreign currency received for exports will be exchanged for domestic currency.
C remain constant because the surplus is automatically offset by a loan for the deficit countries.
D remain unchanged because its exports are bought with foreign currency.
A
B
C
D
6.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
The table shows the share of a worker’s income spent on three classes of good and the percentage change in the prices of the goods over a year. Over the same period the worker’s money income rises by 25%. What happens to the worker’s real income?
A It falls by 25%.
B It falls by 50%.
C It rises by 25%.
D It is unchanged.
A
B
C
D
7.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Over a period of a year, the annual rate of inflation becomes negative. Which statement must be correct?
A The cost of living has fallen.
B The purchasing power of money has fallen.
C The standard of living has increased.
D There has been an increase in the Consumer Price Index.
A
B
C
D
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