Difference between revisions of "Inflation"
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(Created page with 'What is the definition of inflation, what are the causes? ==See also== *http://www.abelard.org/news/behaviour0605.php') |
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| − | What is the definition of inflation, what are the causes? | + | What is the definition of inflation, what are the causes? Wikipedia states the definition as; |
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| + | ''In economics, inflation is a rise in the general level of prices of goods and services in an economy over a period of time.[1] When the general price level rises, each unit of currency buys fewer goods and services; consequently, inflation is also a decline in the real value of money—a loss of purchasing power in the internal medium of exchange and unit of account in the economy.[2] A chief measure of general price-level inflation is the general inflation rate, which is the percentage change in a general price index (normally the Consumer Price Index) over time.[3]" | ||
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==See also== | ==See also== | ||
*http://www.abelard.org/news/behaviour0605.php | *http://www.abelard.org/news/behaviour0605.php | ||
| + | *[http://en.wikipedia.org/wiki/Inflation Inflation] | ||
Revision as of 23:50, 13 July 2009
What is the definition of inflation, what are the causes? Wikipedia states the definition as;
In economics, inflation is a rise in the general level of prices of goods and services in an economy over a period of time.[1] When the general price level rises, each unit of currency buys fewer goods and services; consequently, inflation is also a decline in the real value of money—a loss of purchasing power in the internal medium of exchange and unit of account in the economy.[2] A chief measure of general price-level inflation is the general inflation rate, which is the percentage change in a general price index (normally the Consumer Price Index) over time.[3]"
