1What are the two primary macroeconomic goals according to the course materials?
2Marcus has a fixed income of $165 to spend on burritos. The price of a burrito rose from $5.50 to $6.60. How many burritos can Marcus afford at the new price?
3Which of the following best describes the annual inflation rate?
4Which of the following statements regarding cost-push inflation are true?
5If your nominal income increases by 5% and the inflation rate is 3%, what is the approximate change in your real income?
6Identify the correct definitions for deflation and disinflation.
7Kaitlin wants to earn a real interest rate of 4% and expects inflation to be 3%. What is the lowest nominal interest rate she should accept?
8Which groups of people are generally protected from or gain from inflation?
9What is core inflation and how is it calculated?
10If inflation persists at a steady rate of 5% per year, approximately how many years will it take for the price level to double?
