Background Flashcards
1
Q
What is inflation?
A
it is the sustained and considerable increase in prices of goods and services over a period of time
2
Q
what does inflation do
A
it decreases purchasing power
3
Q
what is needed for inflation to occur?
A
price increase
increase for a period of time
result in decrease of purchasing power
4
Q
what is inflation expressed as?
A
percentage
5
Q
what does inflation show
A
how well price stability was achieved
