ib econs chapter 20

ib econs chapter 20

Professional Development

35 Qs

quiz-placeholder

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ib econs chapter 20

ib econs chapter 20

Assessment

Quiz

Business

Professional Development

Medium

Created by

tran tai

Used 4+ times

FREE Resource

35 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

3 mins • 1 pt

What is inflation?
A one-time increase in prices
A sustained rise in the average price level
A decrease in the money supply
An increase in purchasing power

2.

MULTIPLE CHOICE QUESTION

3 mins • 1 pt

How is the inflation rate typically measured?
GDP deflator
Consumer Price Index (CPI)
Producer Price Index (PPI)
Unemployment rate

3.

MULTIPLE CHOICE QUESTION

3 mins • 1 pt

In the CPI, what does the base year index number represent?
90
100
50
200

4.

MULTIPLE CHOICE QUESTION

3 mins • 1 pt

If the CPI increases from 120 to 132, what is the inflation rate?
0.1
0.12
0.0909
0.08

5.

MULTIPLE CHOICE QUESTION

3 mins • 1 pt

What is the purpose of using statistical weights in CPI?
To reflect the importance of each item in household spending
To reduce the number of items in the basket
To increase the base year index
To eliminate inflation

6.

MULTIPLE CHOICE QUESTION

3 mins • 1 pt

In a weighted CPI calculation, if the price of a product with a higher weight increases, how does it affect the CPI?
It has a larger impact on CPI
It has a smaller impact
No impact
It decreases CPI

7.

MULTIPLE CHOICE QUESTION

3 mins • 1 pt

Calculate the inflation rate between 2019 (CPI 110) and 2020 (CPI 122.5).
0.1
0.1136
0.125
0.225

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