Business Law

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Saint Paul School of Business and Law - ZDSFFSDF 21212 Economic Concepts Quiz 2.

Saint Paul School of Business and Law - ZDSFFSDF 21212 Economic Concepts Quiz 2.
Exam (elaborations) • 14 pages • 2021

Economic Concepts 1.) It is generally used to mean any sustained or continuing increase in prices. a. inflation rate c. inflation b. hyper-inflation d. deflation Answer: c Source: (Cristobal M, Pagoso, et al, Philippine Economics (Macro Approach), 2003 Edition) 2.) A reduction of the amount of available money in circulation so that the value of money increases and prices go down. a. inflation rate c. inflation b. hyper-inflation d. deflation Answer: d Source: (Edited by: Clarence L. B...