
Y10 Economics - C31 Inflation and Deflation
Quiz
•
Business
•
9th - 12th Grade
•
Practice Problem
•
Hard
Leong Chee Onn
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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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