Guess the Price
In June 2021, a pound of ground beef cost an average of $4.87. How much did it cost in June 2019?
$4.20, in the past two years, prices have increased by $0.67 since then, or 15.9%.
True/False: Cavallo’s study projects that the pandemic will continue to increase the cost of living for the average US consumer
True
Based on the slideshow, who would you assume would be inclined to make more money during the Pandemic; A car rental service or Subway ticket service?
Car Rental Service
TRUE OR FALSE… In an inflationary environment, the amount money that would need to be paid for goods, (like a box of granola bars) and services, (like getting a haircut), will have a higher value than it did in a non-inflationary one.
FALSE
In June 2021, a gallon of regular unleaded gasoline cost an average of $3.15. How much did it cost in June 2019?
$2.83 The price of gasoline was surprisingly lower two years ago. Prices have gone up by $0.32 since then, or 11.3%.
Cavallo used US credit and debit card transactions for the first how many months of 2020?
First four months
The inflation rates as a result of a higher cost of feed for livestock pushed up prices for which packaged meat brand?
Spam
The term “inflation” is from the Latin term inflare, meaning to….
”blow up or inflate”
In June 2021, a domestic flight cost an average of $325. How much did it cost in June 2019?
$ 358, The price was actually higher two years ago. Prices have gone down by $33 since then, or -9.1%.
In the end, what kind of thing were people typically spending more on since the pandemic begun, according to Cavallo's Study?
Grocery/Food at home
The inflation prices of Grains during the pandemic has resulted in an increase of prices for this cereal brand
General Mills
What country experienced hyperinflation in 1920?
Germany
June 2021, a pound of boneless, skinless chicken breasts cost an average of $3.35. How much have costs deviated since June 2019?
$3.62- Chicken prices have gone up by $0.27 since then
Later on, Cavallo conducted the study with countries other than the US. How many countries out of the 16 that were studied do you think have had higher inflation rates since the pandemic begun?
10 out of 16 countries
This Delivery Service's revenue experienced a 23% increase during the Pandemic?
FedEx
A dollar in 1950 had about the same buying power as how much money today?
About $11.35
In June 2019, the average monthly rent across the country was $1,712. How much does it cost in June 2021?
$1,799- prices have gone up by $87, or 5.1% since June 2019.
What does Cavallo say economists have to look out for in upcoming an future years?
Whether or not pandemic spending patters will become permanent
What industry has experienced the highest amount of cost push inflation as a result of Covid?
The Oil/Metal/Gas industry (either answer works)
What metal did governments in inflationary economic systems mix with gold to dilute it and increase the money supply?
Silver