... is falling inflation, a falling rise in general level of prices
Disinflation
3 of 10
... measures changes and average prices in the basket of goods
CPI
4 of 10
... is the same as CPI but includes mortgages and tax changes so reads a higher figure than CPI
Retail Price Index
5 of 10
Causes of inflation: ... inflation is when consumers spend more and have increased demand so firms increase their prices
Demand pull
6 of 10
Causes of Inflation: ... inflation is when costs for firms increase so they have to increase their prices
Cost push
7 of 10
Impacts of inflation on ... : ... become more competitive, shoe leather costs (shopping around to find best prices) and menu costs (changing menus and price lists)
Firms
8 of 10
Impacts of inflation on ... : People on fixed income will lose out as prices rise, Real incomes fall, Wages keep up with inflation or surpass it, Inflation redistributes wealth and income
Individuals
9 of 10
... inflation: Increases in prices which are predicted with accuracy
Anticipated
10 of 10
Other cards in this set
Card 2
Front
... is a fall in the general level of prices
Back
Deflation
Card 3
Front
... is falling inflation, a falling rise in general level of prices
Back
Card 4
Front
... measures changes and average prices in the basket of goods
Back
Card 5
Front
... is the same as CPI but includes mortgages and tax changes so reads a higher figure than CPI
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