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9 Cards in this Set
- Front
- Back
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inflation
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sustained rise in the price level or fall in the purchasing power of money
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consumer price index
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measure of changes in the prices of goods and services normally purchased by consumers
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producer price index
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measure of changes in wholesale prices
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inflation rate
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rate of change in prices over a period of time
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hyperinflation
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rapid, uncontrolled inflation
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deflation
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a sustained decline in the price level or increase in the purchasing power of money
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cost push inflation
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inflation caused by rising input prices
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demand pull inflation
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inflation caused by increasing demand for goods and services
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wage-price spiral
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an increase in wages leads to an increase in prices and the pattern continues
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