Which term refers to a measure that examines the average change over time in the prices paid by urban consumers for a market basket of consumer goods and services?
Macro Chapter 6

Quiz
•
Business
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University
•
Hard
Kenneth Kunkel
FREE Resource
20 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Consumer price index
Price level
Real wage
Nominal quantity
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the general term for a statistical measure that shows changes in the price level of a basket of goods and services over time?
Real interest rate
Price index
Deflation
Indexing
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which term describes the percentage increase in the price level from one period to the next?
Deflation
Real quantity
Rate of inflation
Nominal interest rate
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the term for a sustained decrease in the general price level of goods and services?
Hyper inflation
Indexing
Deflation
Price level
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following best defines a nominal quantity?
A value measured in current dollars
A value adjusted for inflation
A value indexed to a base year
A value expressed in real terms
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a real quantity?
A value measured in current prices
A value before inflation is considered
A value adjusted for changes in the price level
A value that is not indexed
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which process involves converting a nominal quantity into a real quantity by adjusting for inflation?
Indexing
Hyper inflation
Relative price
Deflating a nominal quantity
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