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Y10 Economics - C31 Inflation and Deflation

Authored by Leong Chee Onn

Business

9th - 12th Grade

Y10 Economics - C31 Inflation and Deflation
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15 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is inflation?

A continuous rise in the general price level of goods and services

A continuous fall in the general price level of goods and services

A sudden increase in the value of money

A decrease in consumer demand

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does CPI stand for?

Consumer Purchasing Index

Consumer Price Index

Cost Price Indicator

Central Price Index

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is hyperinflation?

A decrease in the money supply

A gradual increase in prices over time

A very high rate of inflation that is out of control

A stable price level in the economy

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is benign deflation?

A sudden drop in prices due to economic collapse

Harmful deflation caused by lower demand

A stable price level in the economy

Non-threatening deflation caused by higher supply

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is one cause of cost-push inflation?

Decreased money supply

Lower interest rates

Increased consumer demand

Higher costs of production

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What happens to purchasing power during inflation?

It increases

It decreases

It remains the same

It fluctuates wildly

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a consequence of deflation?

Higher consumer spending

Increased unemployment

Stable prices

Increased business profits

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