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Name: ________________________ Class: ___________________ Date: __________
ID: A
Macro CH 28 sample test questions
Multiple Choice
Identify the choice that best completes the statement or answers the question.
____
1. The opportunity cost of holding money is the
a. inflation rate minus the nominal interest rate.
b. nominal interest rate.
c. real interest rate.
d. unemployment rate.
e. inflation rate.
____
2. The quantity of money demanded will decrease if the
a. inflation rate decreases.
b. nominal interest rate decreases.
c. real interest rate decreases.
d. nominal interest rate increases.
e. price level rises.
____
3. When the opportunity cost of holding money increases, then
a. people want to hold more money.
b. the real interest rate falls.
c. the nominal interest rate falls.
d. people want to hold less money.
e. the quantity of money supplied increases.
____
4. The relationship between the nominal interest rate, the real interest rate, and the inflation rate is that the
a. real interest rate is equal to the nominal interest rate plus the inflation rate.
b. nominal interest rate is equal to the real interest rate plus the inflation rate.
c. real interest rate is equal to the nominal interest rate multiplied by the inflation rate.
d. nominal interest rate is equal to the real interest rate divided by the inflation rate.
e. nominal interest rate is equal to the real interest rate minus the inflation rate.
____
5. The difference between the nominal interest rate and the real interest rate is the
a. inflation rate.
b. unemployment rate.
c. GDP growth rate.
d. money growth rate minus the growth rate of real GDP.
e. price level.
____
6. Suppose the nominal interest rate on a savings bond is 5 percent a year and the inflation rate is 3 percent a
year. How much is the real interest rate?
a. 8 percent
b. 3 percent
c. 2 percent
d. 7 percent
e. 15 percent.
1
Name: ________________________
ID: A
____
7. If the real interest rate is 6 percent and the inflation rate is 4 percent, then the nominal interest rate is
a. 10 percent.
b. 2 percent.
c. 5 percent.
d. 8 percent.
e. 12 percent.
____
8. Barbara is willing to loan $10,000 if she can earn a real interest rate of 6 percent. Everything else the same, if
the inflation rate is 2 percent, she would agree to loan the $10,000 if the nominal interest rate is
a. 4 percent.
b. 10 percent.
c. 3 percent.
d. 8 percent.
e. 12 percent.
____
9. Assume you have a credit card balance of $2,000 at 15 percent and the inflation rate is 3 percent. What are the
nominal and real interest rates?
a. 15 percent nominal and 3 percent real
b. 3 percent nominal and 12 percent real
c. 15 percent nominal and 12 percent real
d. 15 percent nominal and 18 percent real
e. 12 percent nominal and 15 percent real
____ 10. The opportunity cost of holding money
a. increases as the nominal interest rate increases.
b. decreases as the nominal interest rate increases.
c. does not change with the changes in the nominal interest rate.
d. is fixed at all interest rates.
e. is the price level.
____ 11. An increase in the nominal interest rate leads to a
a. rightward shift in the demand for money curve.
b. movement upward along the demand for money curve.
c. leftward shift in the demand for money curve.
d. movement downward along the demand for money curve.
e. neither a shift in nor a movement along the demand for money curve.
____ 12. When the nominal interest rate increases, the
a. quantity of money demanded increases and there is a movement upward along the
demand for money curve.
b. quantity of money demanded decreases and there is a movement upward along the
demand for money curve.
c. demand for money increases and the demand for money curve shifts rightward.
d. demand for money decreases and the demand for money curve shifts leftward.
e. supply of money curve shifts rightward.
2
Name: ________________________
ID: A
____ 13. As the interest rate increases, the opportunity cost of holding money ____ and the quantity of money
demanded ____.
a. increases; increases
b. increases; decreases
c. decreases; increases
d. decreases; decreases
e. increases; does not change because people need money
____ 14. The relationship between the price level and the demand for money is
a. inverse.
b. direct.
c. nonexistent.
d. not clear.
e. U-shaped.
____ 15. When the price level increases, people demand ____ money and the demand for money curve ____.
a. more; shifts rightward
b. more; shifts leftward
c. less; shifts rightward
d. less; shifts leftward
e. the same amount of; does not shift
____ 16. The demand for money increases and the demand for money curve shifts rightward if
a. the real interest rate increase.
b. the nominal interest rate increases.
c. the price level increases.
d. the inflation rate increases.
e. real GDP decreases.
____ 17. An increase in the price level leads to a
a. rightward shift in the demand for money curve.
b. movement upward along the demand for money curve.
c. leftward shift in the demand for money curve.
d. movement downward along the demand for money curve.
e. rightward shift of the supply of money curve.
____ 18. An increase in the price level leads to ____ in the demand for money and an increase in real GDP leads to
____ in the demand for money.
a. an increase; an increase
b. an increase; a decrease
c. an decrease; a increase
d. a decrease; a decrease
e. no change; an increase
____ 19. The relationship between real GDP and the demand for money is
a. negative.
b. positive.
c. nonexistent.
d. not clear.
e. U-shaped.
3
Name: ________________________
ID: A
____ 20. When real GDP increases, the demand for money ____ and the demand for money curve ____.
a. increases; shifts rightward
b. increases; shifts leftward
c. decreases; shifts rightward
d. decreases; shifts leftward
e. does not change; does not shift
____ 21. The demand for money increases and the demand for money curve shifts rightward if
a. the real interest rate increases.
b. the nominal interest rate increases.
c. real GDP increases.
d. the inflation rate increases.
e. the price level falls.
____ 22. An increase in real GDP leads to a
a. rightward shift in the demand for money curve.
b. movement upward along the demand for money curve.
c. leftward shift in the demand for money curve.
d. movement downward along the demand for money curve.
e. neither a shift in the demand for money curve nor a movement along the curve.
____ 23. Which of the following shifts the demand for money curve?
i.
change in the nominal interest rate
ii.
change in real GDP
iii. change in the price level.
a.
b.
c.
d.
e.
i only
ii only.
iii only.
ii and iii.
i, ii, and iii.
____ 24. Which statement most accurately describes the effect financial technology has had on the demand for money
in the United States?
a. Advances in financial technology have all decreased the demand for money.
b. Advances in financial technology have all increased the demand for money.
c. Some advances in financial technology have increased while others have decreased the
demand for money.
d. Advances in financial technology have had no effect on the demand for money.
e. It is not possible to tell what would be the effect because financial technology has not
changed over the past two decades.
____ 25. The increased use of credit cards leads to
a. a rightward shift in the demand for money curve.
b. a movement upward along the demand for money curve.
c. a leftward shift in the demand for money curve.
d. a movement downward along the demand for money curve.
e. no movement along the demand curve for money nor a shift in the demand curve.
4
Name: ________________________
ID: A
____ 26. In the above figure, a movement from point A to point B represents
a. an increase in the demand for money that might be the result of an increase in real GDP.
b. a decrease in the demand for money that might be the result of a fall in the price level.
c. a decrease in the quantity of money demanded.
d. an increase in the quantity of money demanded.
e. an increase in the demand for money that might be the result of a fall in the price level.
____ 27. In the above figure, a movement from point B to point C represents
a. an increase in the demand for money that might be the result of an increase in real GDP.
b. a decrease in the demand for money that might be the result of an increase in real GDP.
c. a decrease in the quantity of money demanded.
d. a increase in the quantity of money demanded.
e. an increase in the demand for money that might be the result of a fall in the price level.
____ 28. From the 1970s to 2005, as a fraction of GDP, the quantity of money that people and businesses have held has
been
a. decreasing.
b. increasing.
c. fluctuating erratically.
d. independent of people's use of credit cards.
e. changing only as the interest rate changed.
____ 29. Every day, ____ changes to make the quantity of money demanded equal the quantity of money supplied.
a. real GDP
b. the money supply
c. the price level
d. the nominal interest rate
e. the inflation rate
5
Name: ________________________
ID: A
____ 30. Other things the same, if the Fed increases the quantity of money, the supply of money curve shifts
a. rightward and the nominal interest rate decreases.
b. leftward and the nominal interest rate increases.
c. rightward and the real interest rate increases.
d. leftward and the real interest rate increases.
e. leftward and the nominal interest rate decreases.
____ 31. In the money market, if real GDP increases, then the demand for money ____ and the equilibrium nominal
interest rate ____.
a. increases; rises
b. increases; falls
c. decreases; rises
d. decreases; falls
e. increases; does not change
____ 32. In the above figure, if the interest rate is 8 percent per year, the quantity of money demanded is
a. less than the quantity of money supplied and the interest rate will change.
b. greater than the quantity of money supplied and the interest rate will change.
c. less than the quantity of money supplied and the demand curve for money will shift.
d. greater than the quantity of money supplied and the demand curve for money will shift.
e. greater than the quantity of money supplied and the supply curve of money will shift.
____ 33. In the above figure, the equilibrium interest rate is ____ and the equilibrium quantity of money is ____
trillion.
a. 8 percent; $1.2
b. 4 percent; $0.6
c. 4 percent; $1.2
d. 8 percent; $0.6
e. 0 percent; $1.2
6
Name: ________________________
ID: A
____ 34. In the above figure, if the interest rate is 3 percent per year, the quantity of money demanded is
a. less than the quantity of money supplied and the interest rate will change.
b. greater than the quantity of money supplied and the interest rate will change.
c. less than the quantity of money supplied and the demand curve for money will shift.
d. greater than the quantity of money supplied and the demand curve for money will shift.
e. greater than the quantity of money supplied and the supply curve of money will shift.
____ 35. In the above figure, if the interest rate is 2 percent per year, the quantity of money demanded is
a. less than the quantity of money supplied and the interest rate will change.
b. greater than the quantity of money supplied and the interest rate will change.
c. less than the quantity of money supplied and the demand curve for money will shift.
d. greater than the quantity of money supplied and the demand curve for money will shift.
e. greater than the quantity of money supplied and the supply curve of money will shift.
____ 36. When the Fed increases the quantity of money,
a. the price level immediately increases.
b. the price level is slow to change.
c. the nominal interest rate immediately increases but the real interest rate does not change.
d. real GDP immediately decreases.
e. both the nominal interest rate and real interest rate immediately increase.
____ 37. In the long run, an increase in the quantity of money ____ the nominal interest rate and ____ the real interest
rate.
a. raises; raises
b. raises; does not change
c. lowers; lowers
d. lowers; does not change
e. lowers; raises
____ 38. In the long run, when the Fed increases the quantity of money, the
a. price level rises.
b. nominal interest rate falls.
c. demand for money decreases.
d. price level falls.
e. real interest rate rises.
____ 39. In the long run, an increase in the quantity of money leads to
a. an equal percentage increase in the real interest rate.
b. a smaller percentage increase in the real interest rate.
c. an equal percentage increase in the price level.
d. a smaller percentage increase in the price level.
e. no effect on the price level or on real GDP.
____ 40. The proposition that in the long run when real GDP equals potential GDP, an increase in the quantity of
money leads to an equal percentage increase in the price level is the called the quantity theory of
a. constant velocity.
b. inflation.
c. money.
d. equal change.
e. the long run.
7
Name: ________________________
ID: A
____ 41. When real GDP equals potential GDP, the quantity theory of money says that an increase in the quantity of
money brings an equal percentage
a. increase in the price level.
b. increase in real GDP.
c. decrease in the price level.
d. decrease in velocity.
e. decrease in real GDP.
____ 42. Using the quantity theory of money, in the long run a 3 percent increase in the quantity of money leads to a 3
percent
a. increase in the price level.
b. increase in the real interest rate.
c. decrease in the price level.
d. decrease in the real interest rate.
e. increase in real GDP.
____ 43. Velocity is V, the quantity of money is M, the price level is P, and real GDP is Y. Which of the following
formulas is correct?
a. V = (P × Y) ÷ M
b. V = (P + Y) × M
c. Y = V × M
d. Y = (P × M) ÷ V
e. Y = (P + M) – V
____ 44. If nominal GDP is $6.0 trillion and the quantity of money is $1.5 trillion, then the
a. price level is 110.
b. price level is 120.
c. velocity of circulation is 4.
d. velocity of circulation is 10.
e. price level is 4.00.
____ 45. If real GDP is $200, the price level is 2.5, and velocity is 5, then the quantity of money is
a. $200.
b. $100.
c. $750.
d. $1,000.
e. $500.
____ 46. Suppose the quantity of money is $1,000, the velocity of circulation is 6, and real GDP is $4,000. Then the
price level is
a. 2.5.
b. 2.0.
c. 1.5.
d. 1.1.
e. 6.0.
8
Name: ________________________
ID: A
____ 47. Suppose nominal GDP is $2,000 a year and the quantity of money is $400. Then the velocity of circulation
equals
a. 5.
1
.
b.
5
c. 10.
d. 2.
e. 8.
____ 48. If the price level is 2, real GDP is $50 billion, and the money supply is $4 billion, then velocity is
a. 4.
b. 10.
c. 25.
d. 12.5.
e. 8.
____ 49. If velocity does not change and the quantity of money grows at the same rate as does real GDP, then in the
long run
a. the inflation rate equals the growth rate of the quantity of money.
b. the nominal interest rate is less than the real interest rate.
c. the real interest rate is less than the nominal interest rate.
d. the inflation rate equals zero.
e. the nominal interest rate equals zero.
____ 50. If velocity does not change and if real GDP and the quantity of money grow at the same rate, then the price
level
a. rises and the inflation rate is negative.
b. falls and the inflation rate is negative.
c. does not change and the inflation rate is zero.
d. rises and the inflation rate is positive.
e. falls and the inflation rate is positive.
____ 51. Suppose that real GDP grows by 3 percent a year, the quantity of money grows 6 percent a year, and velocity
grows by 1 percent. In the long run, the inflation rate equals
a. 9 percent.
b. 4 percent.
c. 5 percent.
d. 12 percent.
e. 10 percent.
____ 52. Suppose that real GDP grows by 3 percent a year, the quantity of money grows 5 percent a year, and velocity
does not change. In the long run, the inflation rate equals
a. 8 percent.
b. 3 percent.
c. 5 percent.
d. 2 percent.
e. 10 percent.
9
Name: ________________________
ID: A
____ 53. If the quantity of money starts to grow more rapidly than real GDP and velocity does not change, the result is
a. more rapid growth in potential GDP.
b. the inflation rate rises.
c. an increase in investment.
d. an eventual slowing in the growth rate of the quantity of money.
e. slower growth in the price level.
____ 54. If the inflation rate increases,
a. the velocity of circulation increases.
b. potential GDP increases.
c. real GDP growth increases.
d. the nominal interest rate falls.
e. the real interest rate rises.
____ 55. Hyperinflation is defined as periods of
a. negative price changes.
b. low inflation.
c. inflation over 50 percent per month.
d. inflation under 10 percent per year.
e. inflation over 25 percent per year
____ 56. Inflation at a rate that exceeds 50 percent per month is called
a. extreme inflation.
b. super inflation.
c. hyperinflation.
d. megainflation.
e. skyflation.
____ 57. Hyperinflation
a. occurs in the United States during each business cycle.
b. occurs only in theory, never in reality.
c. has never occurred in the United States.
d. happens in all countries at some time during their business cycle.
e. is a period of time when inflation exceeds 20 percent per year.
____ 58. In the early 1920s, Germany experienced hyperinflation because Germany's
a. economy was growing too rapidly.
b. population was growing too rapidly.
c. quantity of money was growing too rapidly.
d. real GDP was growing faster than nominal GDP.
e. demand for money skyrocketed.
____ 59. During the early 1920s, Germany experienced
a. negative inflation as a result of high money creation.
b. hyperinflation as a result of low money creation.
c. moderate price changes as a result of a recession.
d. hyperinflation as a result of high money creation.
e. hyperinflation as a result of rapidly increasing demand for money.
10
Name: ________________________
ID: A
____ 60. High inflation
a. leads to a more correct allocation of resources.
b. lowers the price level.
c. decreases uncertainty.
d. makes it easier to use money as a standard of account.
e. makes money function less well as a store of value.
____ 61. During an inflation, a household with savings of $100,000
a. gains because inflation increases the value of their savings.
b. loses because the inflation increases the after-tax real interest rate.
c. gains because the inflation gives savers more money and so more purchasing power.
d. loses because inflation increases the real tax on the interest paid.
e. neither gains nor loses because inflation does not affect savers.
____ 62. One effect of inflation is that it is a tax that redistributes goods and services from
a. government to households.
b. investors to savers.
c. government to businesses.
d. households and businesses to the government.
e. businesses to households
____ 63. Inflation ____ the cost of holding money and ____ the after-tax real interest rate.
a. increases; increases
b. increases; decreases
c. decreases; increases
d. decreases; decreases
e. increases; does not change
____ 64. Assume an economy begins with zero inflation, a 25 percent income tax rate, and a real interest rate of 4
percent. If inflation rises to 4 percent, the nominal interest rate becomes ____ percent and the after-tax real
interest becomes ____ percent.
a. 0; 1
b. 8; 2
c. 8; 4
d. 6; 2
e. 8; 6
____ 65. The "shoe-leather costs" of inflation are the costs from
a. higher prices for all goods, including necessities such as shoes.
b. the government taking a higher percentage of interest income.
c. confusion as people lose track of real costs and benefits.
d. time spent trying to spend money quickly.
e. higher taxes due to higher inflation.
____ 66. Shoe-leather costs of inflation arise from the
a. increasing costs of apparel (clothes and shoes) as inflation rises.
b. increase of velocity as inflation rises.
c. decline in the use of money as a unit of account.
d. increasing costs of agricultural products as inflation rises.
e. confusion that results from higher inflation.
11
Name: ________________________
ID: A
____ 67. If inflation is making it difficult for people to estimate the true marginal benefits and true marginal costs of
activities, inflation is leading to
a. tax costs.
b. shoe-leather costs.
c. confusion costs.
d. uncertainty costs.
e. increased economic growth.
____ 68. The dominant factor why the nominal interest rate differs among nations is that ____ differs among nations.
a. potential GDP
b. the unemployment rate
c. inflation rate
d. the price level
e. the quantity of money
____ 69. If the inflation rate is zero, the nominal interest rate is
a. greater than the real interest rate.
b. less than the real interest rate.
c. equal to the real interest rate.
d. equal to the inflation rate.
e. positive and the real interest rate is negative.
____ 70. The long-run effect of a decrease in the growth rate of the quantity of money is a
a. lower real interest rate.
b. higher real interest rate.
c. lower nominal interest rate.
d. higher nominal interest rate.
e. higher inflation rate.
____ 71. The long-run effect of an increase in the growth rate of the quantity of money is a
a. lower real interest rate.
b. higher real interest rate.
c. lower nominal interest rate.
d. higher nominal interest rate.
e. lower inflation rate.
____ 72. If the Fed wants to lower the nominal interest rate in the long run, the Fed ____ the growth rate of the money
supply.
a. raises
b. lowers
c. does not change
d. first lowers and then raises
e. None of the above answers are correct because the premise of the question is wrong since
the Fed cannot affect the nominal interest rate, only the real interest rate.
12
Name: ________________________
ID: A
____ 73. In the long run, the real interest rate is 3 percent, real GDP grows at 4 percent, velocity is constant, and the
quantity of money grows at 8 percent. The nominal interest rate is
a. 6 percent.
b. 7 percent.
c. 8 percent.
d. 10 percent.
e. 12 percent.
____ 74. In the long run, the real interest rate is 3 percent, real GDP grows at 4 percent, velocity is constant, and the
quantity of money grows at 6 percent. The nominal interest rate is
a. 3 percent.
b. 4 percent.
c. 5 percent.
d. 10 percent.
e. 6 percent.
____ 75. In the short run, an increase in the growth rate of the money supply ____ the nominal interest rate and in the
long run it ____ the nominal interest rate.
a. raises; raises
b. raises; lowers
c. lowers; raises
d. lowers; lowers
e. does not change; raises
____ 76. In the long run, an increase in the growth rate of the money supply ____ the inflation rate and ____ the
nominal interest rate.
a. raises; raises
b. raises; lowers
c. lowers; raises
d. lowers; lowers
e. raises; does not change
____ 77. In the long run, when an economy experiences inflation, the price level ____ and the nominal interest rate
____.
a. rises; remains constant
b. remains constant; rises
c. rises; rises
d. falls; rises
e. rises; falls
____ 78. During the 1990s, Canada had an average inflation rate of 1.5 percent while Columbia had an average
inflation rate of 21.5 percent. You would expect that nominal interest rates in Canada are
a. less than nominal interest rates in Columbia.
b. equal to nominal interest rates in Columbia.
c. greater than nominal interest rates in Columbia.
d. unpredictably different from nominal interest rates in Columbia.
e. not comparable to nominal interest rates in Columbia.
13
Name: ________________________
ID: A
____ 79. Inflation decreases the growth of capital because
i.
when the after-tax real interest rate falls, savings decreases.
ii. velocity increases when inflation increases.
iii. the higher the inflation rate, the higher is the true income tax rate on income from
capital.
.
a. i only.
b. ii only.
c. iii only.
d. i and iii.
e. i, ii, and iii.
____ 80. During a period of hyperinflation, as households and firms avoid holding money
a. potential GDP increases.
b. long term savings accounts become more popular.
c. barter becomes more common.
d. capital investment increases.
e. the costs of inflation decrease.
14
ID: A
Macro CH 28 sample test questions
Answer Section
MULTIPLE CHOICE
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Level 1: Definition
Opportunity cost of holding money
Level 2: Using definitions
Opportunity cost of holding money
Level 2: Using definitions
Opportunity cost of holding money
Level 1: Definition
Interest rates
Level 1: Definition
Interest rates
Level 3: Using models
Interest rates
Level 3: Using models
Interest rates
Level 3: Using models
Interest rates
Level 3: Using models
Interest rates
Level 1: Definition
Demand for money
Level 2: Using definitions
Demand for money
Level 2: Using definitions
Demand for money
Level 2: Using definitions
Demand for money
Level 2: Using definitions
Demand for money | Price level
Level 2: Using definitions
Demand for money | Price level
Level 2: Using definitions
Demand for money | Price level
Level 2: Using definitions
Demand for money | Price level
Level 2: Using definitions
Demand for money | Price level and real GDP
Level 2: Using definitions
Demand for money | Real GDP
Level 2: Using definitions
Demand for money | Real GDP
Level 2: Using definitions
Demand for money | Real GDP
ID: A
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Checkpoint 28.1
C
PTS:
Checkpoint 28.1
D
PTS:
Checkpoint 28.1
A
PTS:
Checkpoint 28.1
A
PTS:
Checkpoint 28.1
D
PTS:
Checkpoint 28.1
A
PTS:
Checkpoint 28.1
A
PTS:
Checkpoint 28.1
A
PTS:
Checkpoint 28.1
B
PTS:
Checkpoint 28.1
B
PTS:
Checkpoint 28.1
B
PTS:
Checkpoint 28.1
B
PTS:
Checkpoint 28.2
B
PTS:
Checkpoint 28.2
A
PTS:
Checkpoint 28.2
C
PTS:
Checkpoint 28.2
C
PTS:
Checkpoint 28.2
A
PTS:
Checkpoint 28.2
A
PTS:
Checkpoint 28.2
A
PTS:
Checkpoint 28.2
C
PTS:
Checkpoint 28.2
B
PTS:
Checkpoint 28.2
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
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2
Level 2: Using definitions
Demand for money | Real GDP
Level 2: Using definitions
Demand for money
Level 2: Using definitions
Demand for money
Level 2: Using definitions
Demand for money
Level 3: Using models
Demand for money
Level 3: Using models
Demand for money
Level 2: Using definitions
Eye on the U.S. economy | Money and credit cards
Level 2: Using definitions
Money market equilibrium
Level 2: Using definitions
Money market equilibrium
Level 3: Using models
Money market equilibrium
Level 3: Using models
Money market equilibrium
Level 3: Using models
Money market equilibrium
Level 3: Using models
Money market equilibrium
Level 3: Using models
Money market equilibrium
Level 2: Using definitions
The money market in the long run
Level 3: Using models
The money market in the long run
Level 2: Using definitions
Money and the price level
Level 2: Using definitions
Money and the price level
Level 1: Definition
Quantity theory of money
Level 1: Definition
Quantity theory of money
Level 2: Using definitions
Quantity theory of money
Level 3: Using models
Equation of exchange
Level 3: Using models
Equation of exchange
Level 3: Using models
Equation of exchange
ID: A
46. ANS:
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47. ANS:
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48. ANS:
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49. ANS:
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50. ANS:
OBJ:
51. ANS:
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65. ANS:
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66. ANS:
OBJ:
67. ANS:
OBJ:
68. ANS:
OBJ:
69. ANS:
OBJ:
C
PTS:
Checkpoint 28.2
A
PTS:
Checkpoint 28.2
C
PTS:
Checkpoint 28.2
D
PTS:
Checkpoint 28.2
C
PTS:
Checkpoint 28.2
B
PTS:
Checkpoint 28.2
D
PTS:
Checkpoint 28.2
B
PTS:
Checkpoint 28.2
A
PTS:
Checkpoint 28.2
C
PTS:
Checkpoint 28.2
C
PTS:
Checkpoint 28.2
C
PTS:
Checkpoint 28.2
C
PTS:
Checkpoint 28.2
D
PTS:
Checkpoint 28.2
E
PTS:
Checkpoint 28.3
D
PTS:
Checkpoint 28.3
D
PTS:
Checkpoint 28.3
B
PTS:
Checkpoint 28.3
B
PTS:
Checkpoint 28.3
D
PTS:
Checkpoint 28.3
B
PTS:
Checkpoint 28.3
C
PTS:
Checkpoint 28.3
C
PTS:
Integrative
TOP:
C
PTS:
Integrative
TOP:
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
Integrative
1
Integrative
DIF:
TOP:
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Level 3: Using models
Equation of exchange
Level 3: Using models
Equation of exchange
Level 3: Using models
Equation of exchange
Level 3: Using models
Money growth and inflation
Level 3: Using models
Money growth and inflation
Level 3: Using models
Money growth and inflation
Level 3: Using models
Money growth and inflation
Level 3: Using models
Money growth and inflation
Level 2: Using definitions
Money growth and inflation
Level 1: Definition
Hyperinflation
Level 1: Definition
Hyperinflation
Level 2: Using definitions
Hyperinflation
Level 2: Using definitions
Eye on the past | Hyperinflation in Germany in the 1920s
Level 2: Using definitions
Eye on the past | Hyperinflation in Germany in the 1920s
Level 2: Using definitions
Costs of inflation
Level 2: Using definitions
Costs of inflation
Level 2: Using definitions
Inflation as a tax
Level 2: Using definitions
Costs of inflation | Taxes and interest
Level 3: Using models
Costs of inflation | Taxes and interest
Level 1: Definition
Costs of inflation | Shoe-leather
Level 1: Definition
Costs of inflation | Shoe-leather
Level 2: Using definitions
Costs of inflation | Confusion
Level 3: Using models
DIF: Level 1: Definition
3
ID: A
70. ANS:
OBJ:
71. ANS:
OBJ:
72. ANS:
OBJ:
73. ANS:
OBJ:
74. ANS:
OBJ:
75. ANS:
OBJ:
76. ANS:
OBJ:
77. ANS:
OBJ:
78. ANS:
OBJ:
79. ANS:
OBJ:
80. ANS:
OBJ:
C
Integrative
D
Integrative
B
Integrative
B
Integrative
C
Integrative
C
Integrative
A
Integrative
C
Integrative
A
Integrative
D
Integrative
C
Integrative
PTS:
TOP:
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TOP:
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TOP:
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TOP:
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TOP:
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TOP:
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TOP:
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TOP:
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TOP:
1
Integrative
1
Integrative
1
Integrative
1
Integrative
1
Integrative
1
Integrative
1
Integrative
1
Integrative
1
Integrative
1
Integrative
1
Integrative
DIF: Level 4: Applying models
DIF: Level 2: Using definitions
DIF: Level 4: Applying models
DIF: Level 5: Critical thinking
DIF: Level 5: Critical thinking
DIF: Level 5: Critical thinking
DIF: Level 4: Applying models
DIF: Level 4: Applying models
DIF: Level 5: Critical thinking
DIF: Level 4: Applying models
DIF: Level 4: Applying models
4