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Items (5 items) (Drag and drop into the appropriate area below) wealth redistribution costs people incur to avoid holding cash when there is inflation money illusion costs of changing decreased tax collection with inflation Categories Problems with inflation Not a problem < 0209 > O OF 9 QUESTIONS COMPLETED
Different categories of expenditures are weighted differently in the consumer price index. Rank these items in from the highest share to the lowest share. Pieces of the CPI Items (6 items) (Drag and drop into the appropriate area) Highest share Medical care Transportation Education Food and beverages 2 Housing ecreation
1st attempt See Hint In 2015, the Consumer Price Index (CPI) was 238, whereas it was about 100 in 1982 Suppose that one of your parents had a job that paid $28,000 annually in 1982 and a job that paid $60,000 annually in 2015. Relative to 1982, we could say that your parents nominal income in 2015 and that your parents real income in 2015. increased decreased stayed the same O OF 9 QUESTIONS COMPLETED SUBMIT ANSWE 44 F7 FS F8 9No
1st attempt See Hin e end of that year. What was the inflation rate for the year? % . (Note: answer should be listed to two decimal places.) O OF 9 QUESTIONS COMPLETED K04/09 SUBMIT ANSV
a. When the money supply grows, the inflation rate b. When the money supply decreases, the inflation rate increases decreases decreases when the money supply decreases by less than 10%, but stays constant otherwise 06/09 > O OF 9 QUESTIONS COMPLETED

1st attempt We pay higher prices for TVs today than we paid 10 years ago. The higher prices today are likely due to Choose one or more: A. the higher quality of todays TVs. B. a monopoly in the TV industry. C. inflation. O OF 9 QUESTIONS COMPLETED 05,09 >
1st attempt 0 See Hint The macroeconomic data collection department for the country of the United Republic of Neverland reported the consumer price index as 211.4 in December 2010, and 271.6 in December 2016. By what percentage did the index increase from the end of 2010 to the end of 2016 (rounded to one decimal place)? O OF 9 QUESTIONS COMPLETED /09 SUBMIT ANSWER
1st attempt Which of the following statements are true about the velocity of money? Choose one or more: A. An increase in velocity, all else being equal, increases real GDP B. An increase in velocity, all else being equal, increases nominal GDP C. Velocity is part of the equation of exchange. D. Velocity is the number of times a unit of currency exchanges hands in a given year. O OF 9 QUESTIONS COMPLETED K08/09 >
1st attempt Which of the following statements are true about inflation and the cost of living? Choose one or more: A. Governments sometimes choose to have high inflation rates when they owe large debts to other countries B. In the past 50 years in the United States, the highest periods of inflation occurred in the 1970s. C. The United States has not experienced deflation in the past 50 years. D. A salary of $100,000 will give a person appr will give a person approximately the same purchasing power anywhere in the United States. やSUB o oF 9 QUESTIONS COMPLETED <09/09 >
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Table 1.1 shows the category wise which are come under the title Problems with inflation and Not a problem title: Table 1.1 P

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