Effects of Inflation on Suppliers and Demanders

Instructions:

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

question 1 of 3

Which of the following groups of people will benefit from unexpected inflation?

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1. A retired woman lives entirely on Social Security income, while a farmer borrows money to buy a new tractor. How would inflation affect them?

2. Which of the following would be negatively affected from unanticipated inflation?

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About This Quiz & Worksheet

Inflation, which is related to a rise in prices, is the topic of this quiz and worksheet. The quiz will test your understanding of the impact inflation has on producers and consumers by asking you to look at several types of people groups.

Quiz & Worksheet Goals

You can anticipate questions over the following concepts:

  • Anticipated versus unanticipated inflation
  • Overall effects of inflation
  • Who benefits and who is harmed by inflation
  • Actual inflation and expected inflation

Skills Practiced

You will be expected to use the following skills:

  • Knowledge application- use your knowledge to decide who benefits from unexpected inflation
  • Interpreting information- verify that you can read information about savers and borrowers and interpret it correctly
  • Critical thinking- determine how people are affected by actual inflation

Additional Learning

If you're interested in further exploring the topic of inflation, take a look at Effects of Inflation on Suppliers and Demanders. This lesson expands on the following objectives:

  • Know how inflation is caused
  • Understand how inflation affects the Federal Government
  • Apply the effects of inflation to real-life scenarios
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