Chapter 6. A Fast (Food) Measure of Inflation

EIA Activity: A Fast (Food) Measure of Inflation

1. Question

   Use Link 1 to answer the following questions. True or False: The first McDonald’s opened in Des Plaines, Illinois on April 15, 1955.

   A.

   False.

   B.

   True.

2. Question

   The first day McDonald’s opened, sales were:

   A.

   $755.20

   B.

   $1,567.50

   C.

   $366.12

   D.

   $254.43

3. Question

   True or False: By 1965, there were over 1000 McDonald’s restaurants throughout the United States.

   A.

   False.

   B.

   True.

4. Question

   True or False: By 1958, McDonald’s had sold its 100 millionth hamburger.

   A.

   True.

   B.

   False.

5. Question

   True or False: In 1967, the first international McDonald’s restaurant opened in China.

   A.

   False.

   B.

   True.

6. Question

   True or False: The Big Mac was added to the national menu in 1968.

   A.

   False.

   B.

   True.

7. Question

   Use Link 2 to answer the following questions. True or False: The Big Mac Index was invented by The Economist in 1986.

   A.

   True.

   B.

   False.

8. Question

   True or False: The average price of a Big Mac in the United States in July 2014 was $2.73.

   A.

   False.

   B.

   True.

9. Question

   How can the Big Mac Index be used to compare exchange rates? Discuss.

   Your response will be graded by your instructor.

   How can the Big Mac Index be used to compare exchange rates? Discuss.

• Point per question: 1pts for short answer 1pts for multiple choice
• number of attempts on quiz as a whole: 1 or unlimited?
• set which score reports to Gradebook: first, most recent, highest, or average
• Randomize answers (for multiple choice questions only)? Yes or no