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Inflation And Deflation Quiz 18 (25 MCQs)

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1. Which post WWII US President used a temporary freeze on wages and prices to control inflation and stabilize the dollar?
2. In the U.S., inflation occurs
3. What happens to purchasing power as inflation increases?
4. Which of the following is NOT a limitation of the CPI?
5. What are some factors that can influence the CPI?
6. A decrease of inflation rates is called
7. Which of the following is TRUE of the CPI?
8. What is a supply shock?
9. When the economy is at full-employment, changes in the money supply have _____ effect on real output in the long-run
10. A government wishes to stimulate economic recovery. Which action will assist this?
11. How many Harry Potter movies are there?
12. Which is NOT one of the top 3 categories of items in the basket of goods used to calculate CPI?
13. Extremely rapid inflation with the price level rising by at least fifty per cent each month
14. What type of inflation is caused when banks print more money?
15. An example of a real variable is
16. By comparing the price change of a market basket of goods and services over time, we can determine the rate of inflation or deflation.
17. The Consumer Price Index (CPI) is best used to determine
18. _____ High interest rates tend to encourage consumers to buy goods that are often bought with credit such as cars, houses, and other expensive items.
19. What is the main cause of falling prices in Japan between 1995 and 2014?
20. Maintaining inflation rates at 2% or below is known as _____
21. The prices of gold, platinum, fine art and yachts are examples of prices used as leading indicators of inflation, since people hold onto them when they expect overall price levels to rise.
22. Where does the word "inflation" come from?
23. The quantity theory of money concludes that an increase in the money supply causes
24. Whom does inflation hurt the most?
25. _____ is income that doesn't change.
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