3 Questions
What is inflation?
A sustained increase in average price level of all goods and services produced in an economy
What is deflation?
A sustained decrease in average price level of all goods and services produced in an economy
What does CPI measure?
The changes over time in general level of retail prices of selected goods and services that households purchase for the purpose of consumption
Test your knowledge on inflation, deflation, and the Consumer Price Index (CPI) in this informative quiz. Learn about the impact of these economic concepts on the overall price level of goods and services in an economy. This quiz will help you understand the importance of measuring and analyzing changes in retail prices through the CPI. Get ready to sharpen your understanding of these key economic indicators!
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