Textbook ExpertVerified Tutor
28 Oct 2021
Introduction
Inflation: In economics, inflation represents a situation in which the prices of goods and services rise, but the purchasing power of consumers declines over a period of time. There are two types of inflation that economists distinguish. Cost-push inflation and demand-pull inflation. These include four subcategories of inflation, including hyperinflation, crawl, galloping, and walking inflation. Differentiated from variations.
Unlock all Textbook Solutions
Already have an account? Log in