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Inflation is a problem most pronounced during the recovery phase of the business

by | Jun 26, 2022 | Management | 0 comments

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Inflation is a problem most pronounced during the recovery phase of the business cycle. Inflation can be measured by a consumer price index (CPI). The CPI is calculated by dividing the current year’s market basket of goods and services by some base year’s prices. The United States of America has had varying inflation rates but have been generally stable to other countries’ inflation rates. The consequences of inflation include reducing some people’s real income if their nominal incomes do not increase as fast as the inflation rate; it can also affect wealth; and it reduces real interest rates if nominal interest rates increase less than the inflation rate
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The two basic types of inflation are demand pull and cost push. It is important to know which type of inflation is being experienced because each type may require a different type of policy prescription to combat. We are generally more effective in combatting demand pull than cost push inflation.
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If we experience runaway inflation, we are suffering from hyperinflation. Hyperinflation can cause a collapse of the economy.
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2-Causes and Consequences of Inflation
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