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In economics, inflation is a general increase in the prices of goods and services in an economy. When the general price level rises, each unit of currency buys fewer goods and services; consequently, inflation corresponds to a reduction in the purchasing power of money.
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The currency depreciation was seen in Venezuela when the bolivar's purchasing power dropped so low that a person sold sculptures made out of money because as raw material it was worth more than a bill.
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Two big reasons cause inflation; one is the shortage of supply and another is an increase in demand. If right now the pencils we use are in balance with the companies’ production then there would be no sum rise in the prices of the pen...
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Other curated ideas on this topic:
Cost-push inflation is the decrease in the aggregate supple of goods and services stemming from an increase in the cost of production.
An increase in the costs of raw materials or labor can contribute to cost-pull inflation.
Demand shocks occur when the demand for products drops as people stop earning money. A tactic to fix this is to stimulate the economy. In 2008, Australia gave households cash and encouraged them to spend to jumpstart the economy.
In 2020, the problem is also a lac...
Demand-pull inflation is the increase in aggregate demand, categorized by the four sections of the macroeconomy: households, business. governments. and foreign buyers.
Demand-pull inflation can be cause by an expanding economy, increased government spending, or overseas growth.
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