Inflation and CPI Practice- Macro 2.8
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Business
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11th Grade - University
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Hard
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10 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What does the inflation rate indicate?
The base year value of CPI
The total number of goods in a market basket
The percentage change in prices over a period
The absolute price of goods in a year
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
If the CPI in 1990 is 130, what does it signify?
Prices have decreased by 30% since the base year
Prices are the same as the base year
Prices have doubled since the base year
Prices have increased by 30% since the base year
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How is the CPI calculated?
By multiplying the current year's market basket value by the base year's value
By adding the current year's market basket value to the base year's value
By subtracting the base year's market basket value from the current year's value
By dividing the current year's market basket value by the base year's value and multiplying by 100
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the CPI for a year if the market basket value is $60 and the base year value is $50?
90
110
120
100
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
If the market basket value in 2004 is $100 and the base year value is $50, what is the CPI?
100
50
200
150
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
In 2010, if the market basket value is $80, what is the CPI?
120
80
100
150
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the inflation rate if the CPI in year one is 100 and in year two is 125?
15%
30%
20%
25%
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