Started on Monday, 14 October 2024, 11:47 PM
State Finished
Completed on Tuesday, 15 October 2024, 12:03 AM
Time taken 16 mins 3 secs
Marks 20.00/20.00
Grade 100.00 out of 100.00
Question 1
Correct
Mark 1.00 out of 1.00
In response to the COVID-19 pandemic, countries injected trillions of dollars into
their economies to provide relief to households and firms. This response is an
example of ... policy, which can result in ... inflation, ceteris paribus.
a. expansionary; demand-pull
b. expansionary; cost-push
c. contractionary; cost-push
d. contractionary; demand-pull
Refer to section 10.4 of the prescribed textbook.
Question 2
Correct
Mark 1.00 out of 1.00
Use the information in the table to answer question:
Inflation can be caused by a/an ...... Within the AD-AS model, this will be illustrated
by a ......
a. fall in crude oil price; rightward shift of the AS curve
b. rise in consumption spending; leftward shift of the AD curve
c. decrease in exports earnings; leftward shift of the AD curve
d. high wage demands by trade unions; leftward shift of the AS curve
See section section 10.4 of the prescribed textbook.
Question 4
Correct
Mark 1.00 out of 1.00
Which one of the following is the cause of demand-pull inflation?
a. a decrease in government spending
b. an increase in the cost of labour
c. a decrease in interest rates
d. the leftward shift of the AD curve
Refer to section 10.4 of the prescribed textbook.
Question 5
Correct
Mark 1.00 out of 1.00
The distribution effects of inflation are best described by …
a. borrowers benefiting at the expense of lenders.
b. creditors benefiting at the expense of debtors.
c. the poor benefiting at the expense of the rich.
d. the elderly benefiting at the expense of the young.
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