Macro 2.4 Inflation Flashcards
1
Q
Inflation
A
increase in the average price level measured by a weighted basket of goods
2
Q
Deflation
A
decrease in the average price level measured by a weighted basket of goods
3
Q
Disinflation
A
a fall in the rate of inflation
4
Q
Hyperinflation
A
Excessively high rate of inflation
5
Q
Real value
A
VAlues adjusted for inflation, at constant prices
6
Q
Nominal values
A
Values unadjusted for inflation, at current prices
7
Q
A
