Download year 1 macroeconomic objectives - inflation

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