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Inflation: Quiz


Question 1: This theory was important in the 19th century in debates between "Banking" and "Currency" schools of monetary soundness, and in the formation of the ________.
United States dollarFederal Reserve SystemGreat DepressionCentral bank

Question 2: In ________, the unemployed serve as a reserve army of labour, which restrain wage inflation.
Karl MarxCommodity (Marxism)MarxismMarxian economics

Question 3: The ________, simply stated, says that the total amount of spending in an economy is primarily determined by the total amount of money in existence.
Keynesian economicsQuantity theory of moneyInflationMonetary economics

Question 4: Monetarists emphasize keeping the growth rate of money steady, and using ________ to control inflation (increasing interest rates, slowing the rise in the money supply).
Monetary policyOpen market operationsFederal Reserve SystemCentral bank

Question 5: GDP deflator is a measure of the price of all the goods and services included in ________ (GDP).
Gross domestic productEconomyJEL classification codesEconomics

Question 6: ________ such as the U.S.
Bank for International SettlementsCentral bankOpen market operationsFederal Reserve System

Question 7: In ________ prices and wages adjust quickly enough to make other factors merely marginal behavior on a general trend-line.
George StiglerMonetarismMilton FriedmanJacob Viner

Question 8: Positive effects include a mitigation of economic recessions,[5] and ________ by reducing the real level of debt.
Debt reliefDeveloping countries' debtInternational Monetary FundBankruptcy

Question 9: ________ strongly favor a return to a 100 percent gold standard.
Lew RockwellFriedrich von HayekAustrian SchoolLudwig von Mises

Question 10: [2][3] A chief measure of price inflation is the inflation rate, the annualized percentage change in a general price index (normally the ________) over time.
Consumer price index by countryRetail Prices Index (United Kingdom)CensusConsumer price index

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