When inflation occurs simultaneously with a decline in real output, it is referred to as: a) Hyperinflation b) Deflation c) Stagflation d) Disinflation
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- If the inflation rate was 1% in 2014, 3% in 2015, and 2% in 2016, this economy experienced from 2014 to 2015, and from 2015 to 2016. a) inflation; inflation b) disinflation; deflation c) inflation; deflation d) inflation; disinflationWhen there is deflation in the economy: a) the general price level becomes negative b) the general price level falls c) the general price level increases d) the inflation rate fallsWhich type of inflation is usually most pronounced during the expansionary phase of the business cycle
- True/ false . The purchasing power and inflation have an inverse relationship.Which of the following is a potential benefit of inflation? Higher unemployment Higher prices Less government revenue More business profitsIf inflation rises unexpectedly by 5% which of the following economic actors are helped by the higher than expected inflation? a) People and government with long-term debt at fixed interest rates b) Someone with a large stash of cash in a safe deposit box c) None of the choices is correct d) A person who is not due to receive a pay raise for another 11 months e) A bank lending money at a fixed rate of interest
- What is the main measure used to track inflation in most countries? a) Gross Domestic Product (GDP) b) Consumer Price Index (CPI) c) Producer Price Index (PPI) d) Unemployment Rate When the rate of inflation exceeds the rate of interest, what is the likely effect on savers? a) Real interest rates increase b) Real interest rates decreaseIn which of the following situations will demand pull inflation fall? a) Rising aggregate supply b) Reduced taxes c) Rising incomes d) Decreased imports e) Aggregate demand rising with aggregate supply lagsConsider an economy that targets an inflation rate of 2 percent. After reviewing economic changes, the government changes the target rate to 3 percent. As a result, the MPRC will Group of answer choices get steeper shift leftward get flatter shift rightward