LC Economics Price Levels (Inflation-CPI)
Quiz yourself by thinking what should be in
each of the black spaces below before clicking
on it to display the answer.
Help!
|
|
||||
|---|---|---|---|---|---|
| Inflation | show 🗑
|
||||
| show | This is an index constructed to measure changes in the price of one product only. Formula for calculating Simple Price Index: Price in any year / price in base year x 100
🗑
|
||||
| base year | show 🗑
|
||||
| show | This is an index constructed to measure changes in the prices of several products
🗑
|
||||
| weight | show 🗑
|
||||
| CPI | show 🗑
|
||||
| show | It measures the changes in the prices paid by averages households for consuming goods and services
🗑
|
||||
| show | Those items which the average Irish family buys frequently and in large quantities are included.
🗑
|
||||
| Household Budget Inquiry | show 🗑
|
||||
| Creeping inflation | show 🗑
|
||||
| Rapid inflation | show 🗑
|
||||
| show | this is where a country is experiencing a huge annual increase in price levels which rapidly erodes the purchasing power of money and undermines confidence in the domestic currency
🗑
|
||||
| Demand pull inflation | show 🗑
|
||||
| Cost push inflation | show 🗑
|
||||
| Government caused inflation | show 🗑
|
||||
| show | It exists when total demand is less than total supply e.g. falling prices
🗑
|
||||
| Deflationary Policies | show 🗑
|
||||
| How to control Demand Pull inflation | show 🗑
|
||||
| How to control Cost Push Inflation | show 🗑
|
||||
| show | Omits price increases due to increases in indirect taxes when compiling the CPI. It will then show how much of the overall price change in any period is due to indirect taxes and how much is due to all other factors.
🗑
|
||||
| show | Index that calculates each member state of the EU to allow comparison of consumer price trends in the various member states. It excludes mortgage interest but includes personal expenditure of tourists within each country.
🗑
|
||||
| The Agricultural Output Price Index | show 🗑
|
||||
| show | measures changes in the prices of agricultural inputs such as, feeding stuffs, fertilisers and seeds.
🗑
|
||||
| The Import Price Index | show 🗑
|
||||
| The Export Price Index | show 🗑
|
||||
| Problems with inflation 2 | show 🗑
|
||||
| show | measures official rate of inflation, basis for claims on wages and social welfare benefits, used as economic indicator, Assesses price competitiveness on the international market, basis to set interest rates (interest rates > inflation encourages saving)
🗑
|
||||
| Limits of CPI | show 🗑
|
||||
| What factors cause inflation? | show 🗑
|
||||
| What Problems are Caused by High Inflation? | show 🗑
|
Review the information in the table. When you are ready to quiz yourself you can hide individual columns or the entire table. Then you can click on the empty cells to reveal the answer. Try to recall what will be displayed before clicking the empty cell.
To hide a column, click on the column name.
To hide the entire table, click on the "Hide All" button.
You may also shuffle the rows of the table by clicking on the "Shuffle" button.
Or sort by any of the columns using the down arrow next to any column heading.
If you know all the data on any row, you can temporarily remove it by tapping the trash can to the right of the row.
To hide a column, click on the column name.
To hide the entire table, click on the "Hide All" button.
You may also shuffle the rows of the table by clicking on the "Shuffle" button.
Or sort by any of the columns using the down arrow next to any column heading.
If you know all the data on any row, you can temporarily remove it by tapping the trash can to the right of the row.
Embed Code - If you would like this activity on your web page, copy the script below and paste it into your web page.
Normal Size Small Size show me how
Normal Size Small Size show me how
Created by:
MrFromholz
Popular Economics sets