IFY - causes of inflation

IFY - causes of inflation

University

20 Qs

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IFY - causes of inflation

IFY - causes of inflation

Assessment

Quiz

Business

University

Practice Problem

Medium

Created by

Vitalia Kinakh

Used 2+ times

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20 questions

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1.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

If initially, the money supply is $3 trillion, velocity is 4, the price level is 2, and real GDP is $6 trillion, a fall in the money supply to $1 trillion

reduces real GDP to $2.5 trillion

causes velocity to rise to 10.

decreases the price level to 1

decreases the price level to 0.67

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The general form of equation given by Fisher is

PT=MV

MV=PT

TP=MV

MV=TP

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Both sides of the quantity theory of money identity represent ____________. 

Nominal GDP

Inflation

The Money Supply

Real GDP

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A change in which variable in the quantity theory of money is most likely to cause large and sustained changes in prices?

M, the money supply

Y, the real GDP

V, velocity of money

None of the above

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The quantity theory of money is expressed by the identity equation:

MxV ≡ Y

M ≡ PxVxY

MxV ≡ PxY

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A change in which variable in the quantity theory of money is most likely to cause large and sustained changes in prices?

Y, the real GDP

V, velocity of money

M, the money supply

None of the above

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

According to the quantity theory of money, what is the primary cause of inflation?

Increase in money supply

Decrease in money supply

Increase in production

Decrease in production

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