What is inflation in economics?
Is inflation harmful?
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What is inflation in economics?
Inflation refers to the continuous and sustained growth in the general price level. As the price level rises, it reduces the purchasing power or value of cash balances held by the consumers to reduce. This causes real income to decline.
Is inflation harmful?
A certain level of inflation is desirable in an economy to promote growth but a high rate of inflation is harmful. Inflation can be of several types such as
What is inflation in economics?
Inflation refers to the continuous and sustained growth in the general price level. As the price level rises, it reduces the purchasing power or value of cash balances held by the consumers to reduce. This causes real income to decline.
Is inflation harmful?
A certain level of inflation is desirable in an economy to promote growth but a high rate of inflation is harmful. Inflation can be of several types such as
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