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A LEVEL ECONOMICS REVISION CROSSWORD YEAR 1 MACROECONOMIC OBJECTIVES - INFLATION 1. 1 4 5 6 I 2 P 3 M T Y 7 E R U 8 9 10 A C E 11 P 12 13 E I 14 S 15 I L 16 M A E B 17 19 18 N E P U U 20 I M C I T H N 21 H E 22 N 23 I ACROSS D DOWN 4. The CPI excludes this cost whereas the RPI includes it 6. The weights used in the CPI are determined using the Family _________ Survey 7. The type of mean calculated when measuring the Consumer Price Index 9. A fall in the general level of prices 12. Demand pull inflation is more likely to occur when aggregate supply is relatively _________ www.tutor2u.net/economics I -1- 1. Inflation ____________ the value of savings, redistributing income from savers to borrowers 2. The type of mean calculated when measuring the Retail Price Index 3. A disadvantage of inflation, that refers to the need for businesses to change their price lists and update their tills and accounting software (4,4) 5. The type of inflation target in the UK 8. The cost of labour incurred in the production of a unit of output (4,6,4) tutor2u Economics -216. According to Milton Friedman, inflation is always and everywhere a __________ phenomenon 19. This type of inflation occurs when an increase in demand for goods and services causes scarcity of factors of production (6,4) 20. The type of inflation target in the Euro Area 21. A period of very high inflation 22. A fall in the rate of inflation 23. The Consumer Price Index is this type of price index www.tutor2u.net/economics -2- 11/03/2017 10. A(n) ____________ of the exchange rate could lead to demand pull inflation 11. People on this type of income are likely to suffer as a result of inflation 13. The rate of inflation in the UK is controlled by the ____________ Bank of England’s Monetary Policy Committee 14. A wage-price spiral is more likely when trade union power is _______ 15. An increase in the rate of VAT in an economy would cause this type of inflation (4,4) 17. Inflation may lead to a _____________ in an economy’s international competitiveness 18. Inflation is defined as a ____________ increase in the general level of prices tutor2u Economics A LEVEL ECONOMICS REVISION CROSSWORD YEAR 1 MACROECONOMIC OBJECTIVES - INFLATION 1. 1 4 H O U 5 S I 6 N G E X P E Y 7 G E T R I C E F L 10 A T I O N F P I U C X M O N E S D 16 E C 17 R I E M A D I C O T N N D T A P U L A S Y M M E Y P E R I N T U U H C N M O I N E D I S I N A S 13 I I D A C E R Y B N O G F T T L R I L A N S E U U N R S D C T E O A N S I T T C P 18 I O N O 22 L T T N E T H H E T O L R M S U 20 21 I 14 T T U S 3 A I 12 I 15 R C E 11 P R D T 8 C T 19 I U M D N D D O M E 9 2 R E F L A T I 23 O N W E ACROSS G H T E D DOWN 4. The CPI excludes this cost whereas the RPI includes it 6. The weights used in the CPI are determined using the Family _________ Survey 7. The type of mean calculated when measuring the Consumer Price Index 9. A fall in the general level of prices 12. Demand pull inflation is more likely to occur when aggregate supply is relatively _________ www.tutor2u.net/economics I -1- 1. Inflation ____________ the value of savings, redistributing income from savers to borrowers 2. The type of mean calculated when measuring the Retail Price Index 3. A disadvantage of inflation, that refers to the need for businesses to change their price lists and update their tills and accounting software (4,4) 5. The type of inflation target in the UK 8. The cost of labour incurred in the production of a unit of output (4,6,4) tutor2u Economics -216. According to Milton Friedman, inflation is always and everywhere a __________ phenomenon 19. This type of inflation occurs when an increase in demand for goods and services causes scarcity of factors of production (6,4) 20. The type of inflation target in the Euro Area 21. A period of very high inflation 22. A fall in the rate of inflation 23. The Consumer Price Index is this type of price index www.tutor2u.net/economics -2- 11/03/2017 10. A(n) ____________ of the exchange rate could lead to demand pull inflation 11. People on this type of income are likely to suffer as a result of inflation 13. The rate of inflation in the UK is controlled by the ____________ Bank of England’s Monetary Policy Committee 14. A wage-price spiral is more likely when trade union power is _______ 15. An increase in the rate of VAT in an economy would cause this type of inflation (4,4) 17. Inflation may lead to a _____________ in an economy’s international competitiveness 18. Inflation is defined as a ____________ increase in the general level of prices tutor2u Economics