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Inflation
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What happens to the "Value of the Dollar" during inflation?
It decreases.
If a country has high inflation, are its exports likely to become more expensive or cheaper for other countries?
More expensive
Who is usually responsible for trying to control inflation in a country?
The Central bank
Why does inflation discourage people from putting money in a standard savings account?
Because the interest earned is often lower than the rising cost of living.
Which is a "physical asset" that usually protects against inflation:
Real estate
If a worker gets a 3% raise but inflation is 5%, did their "real" income go up or down?
Down (by 2%).
What is "Hyperinflation"?
Extremely rapid or out-of-control inflation (usually over 50% per month)
How does high inflation usually affect social stability?
It increases it (leads to strikes, protests, and unhappiness).
What is "Purchasing Power"?
The amount of goods or services that one unit of currency can buy.
Why might a homeowner with a fixed-rate mortgage actually benefit from inflation?
They pay back their debt with money that is worth less than when they borrowed it.
True or False: Inflation acts like a "hidden tax" on people with fixed incomes.
True
Which group is hurt MOST by unexpected inflation: Savers or Borrowers?
Savers
If you have $10 today and inflation is high, will that $10 buy more or less bread next year?
Less bread
What is the basic definition of inflation?
A general increase in prices and the fall in the purchasing value of money.
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