Inflation and Deflation: The Fundamentals (AQA A-Level Economics): Quizzes
📚Quizzes
Practise the questions
10 questions from this quiz
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Practise the questions
10 questions from this quiz
What does inflation represent in terms of money's purchasing power?
What does inflation represent in terms of money's purchasing power?
A continuous decline
What is disinflation?
What is disinflation?
Inflation rate falls but stays positive
What inflation rate did the UK reach by 1980?
What inflation rate did the UK reach by 1980?
Approximately 20%
Which period is known as 'The Great Moderation' in UK economic history?
Which period is known as 'The Great Moderation' in UK economic history?
1993-2007
When was the Bank of England granted operational independence?
When was the Bank of England granted operational independence?
1997
What level did UK inflation reach during 2022?
What level did UK inflation reach during 2022?
Close to 10%
What causes demand-pull inflation?
What causes demand-pull inflation?
AD exceeds economy's supply capacity
How does cost-push inflation affect the SRAS curve?
How does cost-push inflation affect the SRAS curve?
Shifts leftward and upward
In the monetarist equation , what does represent?
In the monetarist equation , what does represent?
Velocity of circulation of money
What is the Keynesian 'reverse causation' argument about inflation?
What is the Keynesian 'reverse causation' argument about inflation?
Price changes cause money supply changes