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Practice Questions
Test your understanding with targeted questions related to the topic.
Question 1
Easy
Define running inflation.
💡 Hint: Think about the percentage that characterizes running inflation.
Question 2
Easy
What is one effect of running inflation on consumers?
💡 Hint: What happens to money's value when prices go up rapidly?
Practice 4 more questions and get performance evaluation
Interactive Quizzes
Engage in quick quizzes to reinforce what you've learned and check your comprehension.
Question 1
What is the defining rate for running inflation?
- 5%
- 7%
- 10%
💡 Hint: Remember the specific threshold for this type of inflation.
Question 2
True or false: Running inflation is beneficial for fixed-income earners.
- True
- False
💡 Hint: Think about fixed incomes' ability to keep up with rising prices.
Solve 1 more question and get performance evaluation
Challenge Problems
Push your limits with challenges.
Question 1
Assume an economy has a running inflation rate of 10%. If a product cost $100 last year, calculate its expected price this year.
💡 Hint: Use the formula to calculate the new price considering inflation.
Question 2
Discuss how a 7% running inflation rate would affect different income groups. Which groups would be most affected and why?
💡 Hint: Consider how spending patterns differ across income groups.
Challenge and get performance evaluation