Quiz: Calculating Inflation Using CPI
Pearson Edexcel Level 3 Advanced GCE in Economics A (9EC0)
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Building on what you've learned about inflation, let's test your knowledge of calculating inflation using CPI!
What does CPI stand for?
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Which of the following are included in calculating CPI? (Select all that apply)
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The CPI is used to measure {{blank0}} in an economy over time.
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Match the items on the left with their correct pairs on the right
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If the CPI in Year 1 is 100 and in Year 2 it rises to 105, what is the inflation rate?
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Why is a base year important in calculating CPI?
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Match the items on the left with their correct pairs on the right
What are potential limitations of using CPI to measure inflation? (Select all that apply)
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An increase in CPI typically indicates {{blank0}}.
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Using CPI, calculate the inflation rate if CPI rises from 120 to 132.
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