Meaning And Types of Inflation - SS2 Economics Past Questions and Answers - page 1
1
What is inflation?
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A
An increase in the value of money
B
A decrease in the value of money
C
No change in the value of money
2
Which of the following is a type of inflation?
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A
Economic slowdown
B
Budget deficit
C
Demand-pull inflation
3
What causes cost-push inflation?
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A
Increase in demand
B
Increase in supply
C
Increase in production costs
4
Which best simplifies hyperinflation?
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A
A mild inflation
B
A high rate of inflation
C
No change in inflation
5
What is built-in inflation?
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A
A type of inflation caused by a shortage of goods
B
A type of inflation caused by an increase in production costs
C
A self-caused cycle of price increases caused by expectations of inflation
6
How does inflation affect the purchasing power of money?
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7
Name one factor that can cause cost-push inflation.
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