Economics Today and Tomorrow, Student Edition
1st Edition
ISBN:9780078747663
Author:McGraw-Hill
Publisher:McGraw-Hill
Chapter17: Stabilizing The National Economy
Section: Chapter Questions
Problem 10AA
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Question
Define the term future inflation?
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Inflation is the process of increasing the overall general price level in the economy in a given period of time. The prices of the commodities and services will keep increasing drastically such that too much of money will chase too few commodities and services from the economy. Thus, the goods and services that a unit of currency can purchase from the market will fall indicating the fall in the real value of money in the economy.
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