Inflation and Deflation: Further Exploration (AQA A-Level Economics): Quizzes
📚Quizzes
Practise the questions
10 questions from this quiz
ShowHide
Practise the questions
10 questions from this quiz
How do inflation expectations create a self-fulfilling cycle?
How do inflation expectations create a self-fulfilling cycle?
Workers demand higher wages, firms raise prices
What are adaptive expectations?
What are adaptive expectations?
Beliefs based on past events
When did the UK grant operational independence to the Bank of England?
When did the UK grant operational independence to the Bank of England?
1997
What does 'greasing the wheels' refer to in inflation economics?
What does 'greasing the wheels' refer to in inflation economics?
Low, stable inflation helping economy function
What is the difference between deflation and disinflation?
What is the difference between deflation and disinflation?
Deflation: falling prices; disinflation: slower inflation
What causes good (benign) deflation?
What causes good (benign) deflation?
Supply-side improvements reducing costs
What are shoe leather costs?
What are shoe leather costs?
Time spent shopping for best prices
What is the minimum rate that defines hyperinflation?
What is the minimum rate that defines hyperinflation?
Several hundred percent per year
What is fiscal drag?
What is fiscal drag?
Nominal income rises push into higher tax bands
What saying captures the USA's influence on UK inflation?
What saying captures the USA's influence on UK inflation?
When America sneezes, world catches a cold
