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Inflation - Short Quiz

Description

A level Economics (Macro Economics) Quiz on Inflation - Short Quiz, created by Bethan Gale on 19/04/2015.

Quiz by Bethan Gale, updated more than 1 year ago

	Created by Bethan Gale about 9 years ago

37

1

Resource summary

Question 1

Question

Inflation is the tendency of prices to rise persistently (eg for more than two quarters)

Answer

True
False

Question 2

Question

How is inflation currently measured?

Answer

CPI
RPI
RPIX
RPIY

Question 3

Question

How is CPI constructed?

Answer

Living costs survey
Proportion of income used to weigh catagories
Mortgage interest payments
Amount of indirect tax
Increase in index is the percentage of inflation

Question 4

Question

VAT distorts CPI

Answer

True
False

Question 5

Question

Mortgage interest payments are included in CPI

Answer

True
False

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