Inflation and Deflation (Edexcel A-Level Economics A): Quizzes
📚Quizzes
Practise the questions
10 questions from this quiz
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Practise the questions
10 questions from this quiz
What key word describes inflation as a continuing upward trend rather than a one-off price rise?
What key word describes inflation as a continuing upward trend rather than a one-off price rise?
Sustained
Since when has CPI been the UK government's preferred measure of inflation?
Since when has CPI been the UK government's preferred measure of inflation?
January 2004
In index number calculations, what value is the base year always set to?
In index number calculations, what value is the base year always set to?
100
Approximately how many individual price quotes does the ONS collect monthly for the CPI?
Approximately how many individual price quotes does the ONS collect monthly for the CPI?
180,000
What does CPIH include that the original CPI does not?
What does CPIH include that the original CPI does not?
Owner-occupier housing costs
Which key item is included in RPI but excluded from CPI?
Which key item is included in RPI but excluded from CPI?
Mortgage interest payments
What type of inflation occurs when rising production costs force businesses to raise prices?
What type of inflation occurs when rising production costs force businesses to raise prices?
Cost-push inflation
What is disinflation?
What is disinflation?
A fall in the rate of inflation
What CPI inflation level did the UK exceed by 2022?
What CPI inflation level did the UK exceed by 2022?
10%
Why might CPI and RPI overstate the true cost of living?
Why might CPI and RPI overstate the true cost of living?
Fixed weights miss consumer substitution