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ECON 1010 (102)
Lecture 5

ECON 1010 Lecture 5: Lecture 5
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Department
Economics
Course
ECON 1010
Professor
Laura K.Brown
Semester
Spring

Description
oS82 1. Keeping inflation at a low level is a goal of economic policymakers around the world 1. What causes inflation? 1. Growth in the quantity of money 2. When a government creates large quantities of the nations money, the value of the money falls 3. The faster the government creates money, the greater the inflation rate 4. As prices are rising, money is devalued 1. Ex: the game monopoly – starting with a high sum of money, doubles the amount of everything to buy 2. Principle # 10: Society faces a short-run tradeoff between inflation and unemployment 1. Most economists describe the short-run effects of monetary injections as follows: 1. Increasing the amount of money in the economy stimulates the overall level of spending and thus the demand for goods and services 2.
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