Cloze Test – Test 14

In the following passage, there are blanks, each of which has been numbered. Find out the appropriate word/phrase in each case.

In economics, inflation is a (21) increase in the general price level of goods and services in an economy over a period of time resulting in a loss of value of currency. When the price level rises, each unit of currency buys (22) goods and services. Consequently, inflation (23) a reduction in the purchasing power per unit of money - a loss of real value in the medium of exchange and unit of account within the economy. A chief (24) of price inflation is the inflation rate, the annualized percentage change in a general price index, usually the consumer price index, over time. The (25) of inflation is deflation.

In the following passage, there are blanks, each of which has been numbered. Find out the appropriate word/phrase in each case.

In economics, inflation is a (21) increase in the general price level of goods and services in an economy over a period of time resulting in a loss of value of currency. When the price level rises, each unit of currency buys (22) goods and services. Consequently, inflation (23) a reduction in the purchasing power per unit of money - a loss of real value in the medium of exchange and unit of account within the economy. A chief (24) of price inflation is the inflation rate, the annualized percentage change in a general price index, usually the consumer price index, over time. The (25) of inflation is deflation.

In the following passage, there are blanks, each of which has been numbered. Find out the appropriate word/phrase in each case.

In economics, inflation is a (21) increase in the general price level of goods and services in an economy over a period of time resulting in a loss of value of currency. When the price level rises, each unit of currency buys (22) goods and services. Consequently, inflation (23) a reduction in the purchasing power per unit of money - a loss of real value in the medium of exchange and unit of account within the economy. A chief (24) of price inflation is the inflation rate, the annualized percentage change in a general price index, usually the consumer price index, over time. The (25) of inflation is deflation.