What Is Inflation Rate? - Definition & Formula


Choose an answer and hit 'next'. You will receive your score and answers at the end.

question 1 of 3

Which of the following is the best explanation of inflation?

Create Your Account To Take This Quiz

As a member, you'll also get unlimited access to over 79,000 lessons in math, English, science, history, and more. Plus, get practice tests, quizzes, and personalized coaching to help you succeed.

Try it risk-free
Try it risk-free for 30 days. Cancel anytime
Already registered? Log in here for access

1. What's the term that describes the opposite of inflation?

2. What's the index used by the US government to calculate the general inflation rate?

Create your account to access this entire worksheet
A Premium account gives you access to all lesson, practice exams, quizzes & worksheets
Access to all video lessons
Quizzes, practice exams & worksheets
Certificate of Completion
Access to instructors
Create an account to get started Create Account

About This Quiz & Worksheet

This quiz and worksheet can help you assess your knowledge of characteristics of the inflation rate and how it is calculated.

Quiz & Worksheet Goals

This quiz and worksheet can help you assess your knowledge of:

  • Term used for the opposite of inflation
  • Definition of inflation
  • Index used by the US to calculate the general inflation rate
  • Formula used to calculate the rate of inflation

Skills Practiced

  • Knowledge application - use your knowledge to answer questions about what inflation is
  • Information recall - access the knowledge you have gained regarding how the rate of inflation is calculated
  • Interpreting information - verify that you can read information regarding the general inflation rate and interpret it correctly

Additional Learning

To learn more about the inflation rate, review the lesson on What Is Inflation Rate? - Definition & Formula. This lesson covers the following objectives:

  • Determine what the inflation rate measures
  • Identify the purposes of the CPI
  • Review the formula for calculating the rate of inflation