12th Grade Inflation Control Quizzes, Questions & Answers

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This Inflation - Practice Quiz assesses understanding of inflation dynamics, including demand-pull and cost-push inflation, and the role of monetary policy. It evaluates the learner's ability to interpret economic graphs and...

Questions: 6 | Attempts: 766 | Last updated: Mar 22, 2025

Sample Question 1
Refer to the graph below. Assume that the economy is initially at equilibrium at point (a). If there is demand-pull inflation in the economy such that AD1 shifts to AD2 , the long-run AS curve will be

AS2 .

AS1 .

Point (c).

A vertical line at Q1 .

A vertical line at Q2 .

Sample Question 2
Economists generally agree that for sustained inflation to occur, the

Government must accommodate it by increasing government spending.

Government must accommodate it by decreasing taxes.

Federal Reserve must accommodate it by increasing the money supply.

Federal Reserve must accommodate it by decreasing the money supply.

Government must accommodate it by decreasing government spending or increasing taxes.

Sample Question 3
If the government does not react to cost-push inflation with any policy actions, then there is likely to be

An increase in RGDP.

A lower unemployment rate.

An inflation spiral that could become "hyperinflationary."

A recession.

Constant price level.