16371151
Descripción
Test por Zhiger Seitnur, actualizado hace más de 1 año
|
Creado por Zhiger Seitnur
hace casi 6 años
|
|
Pregunta 1
Pregunta
Which price index measures the average price of things purchased by the typical family?
Respuesta
-
GDP deflator
-
producer price index
-
consumer price index
-
minimum wage
Pregunta 2
Pregunta
The good that receives the most weight in the CPI is the good that
Respuesta
-
consumers buy most frequently.
-
has experienced the greatest price increase.
-
has the highest price
-
consumers spend the largest fraction of their income on
Pregunta 3
Pregunta
Which of the following is a reason why the Consumer Price Index (CPI) is not calculated as a simple
average of all prices?
Respuesta
-
It would be difficult to compute a price index using a simple average of all prices
-
Some goods never experience price changes and the CPI would not be variable enough if computed as a simple average.
-
Goods differ in their importance in the average consumer's budget.
-
a. Some goods experience large price changes and the CPI would be too variable if computed by a simple average.
Pregunta 4
Pregunta
Substitution bias
Respuesta
-
is one factor that causes the CPI to underestimate the inflation rate
-
is caused by the poor quality of many imported products.
-
is one of the primary causes of inflation.
-
involves consumer behaviour that helps explain why the CPI overestimates the inflation rate.
Pregunta 5
Pregunta
Improvements in the quality of consumer goods and services over time
Respuesta
-
cause the CPI to overstate actual inflation.
-
cause the CPI to understate actual inflation.
-
are accounted for in the CPI.
-
are insignificant and thus would not affect the CPI even if accounted for
Pregunta 6
Pregunta
Factors that cause the CPI to exaggerate the inflation rate do NOT include
Respuesta
-
the tendency of consumers to substitute relatively cheaper goods for those that have become relatively more expensive.
-
political pressure from unions and retirees on the providers of a country’s official statistics to overstate the inflation rate.
-
the introduction of new technologies that make it easier to obtain the same standard of living.
-
improvements over time on the quality of products.
Pregunta 7
Pregunta
The CPI differs from the GDP deflator in that the CPI
Respuesta
-
uses base year quantities of goods to weight prices.
-
uses current year quantities of goods to weight prices
-
is not a weighted price index
-
always indicates a higher rate of inflation than the GDP deflator.
Pregunta 8
Pregunta
If the consumer price index has a value of 115 today and the base year is 2000, then consumer prices
have
Respuesta
-
increased by 15 per cent since 2000
-
increased by 1.5 per cent since 2000
-
more than doubled since 2000.
-
declined 15 per cent since 2000
Pregunta 9
Pregunta
Use this table to find the real wage in 2002.
Year Nominal Wage (€/Hour) CPI
2001 €12.50 155.0
2002 €13.00 160.0
Respuesta
-
€8.06
-
€8.13
-
€13.00
-
€20.80
Pregunta 10
Pregunta
The real interest rate on a loan
Respuesta
-
is the amount that the consumer agrees to pay
-
is always the same as the nominal rate
-
is the percentage increase in the lender's purchasing power that results from making the loan.
-
decreases as the inflation rate increases
Pregunta 11
Pregunta
When the inflation rate ends up being lower than expected,
Respuesta
-
everyone benefits because money is cheaper.
-
everyone benefits because prices do not increase.
-
lenders of fixed rate mortgages generally benefit because they will make higher profits than they had calculated.
-
borrowers with fixed rate loans will benefit because their purchasing power will not decline as much.
Pregunta 12
Pregunta
In general, a higher than anticipated inflation rate
Respuesta
-
helps everyone
-
hurts everyone.
-
helps creditors and harms debtors.
-
helps debtors and harms creditors.
¿Quieres crear tus propios Tests gratis con GoConqr? Más información.