Understanding Inflation Quiz
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Questions and Answers

What does inflation measure?

  • The average household income
  • The stability of a country's economy
  • The overall increase in prices or the increase in the cost of living in a country (correct)
  • The rate of decrease in prices over a given period of time

    • Who often aspire to be known as 'inflation hawks'?

  • Central bankers (correct)
  • Business leaders
  • Politicians
  • Economists

    • When was inflation declared Public Enemy No. 1 in the United States?

  • In 1974 (correct)
  • In 1968
  • In 1980
  • In 1992

    • What does a broader measure of inflation typically include?

    <p>Increase in the cost of living</p> Signup and view all the answers

    Whose cost of living depends on the prices of many goods and services and the share of each in the household budget?

    <p>Consumers</p> Signup and view all the answers

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