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Krugman AP Macroeconomics Chapter 14

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Subject: 
Economics
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Tags: 
inflation
economics
Real interest rate
deflation
Disinflation
monetary policy
Real versus nominal value
Real versus nominal value
Monetary inflation
Real income
interest
Inflationism
Constant purchasing power accounting
Business
behavior
Human development
Computing
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Chapter 14: Inflation: An Overview ? -The economic costs of inflation -How inflation creates winners and losers -Why policy makers try to maintain a stable rate of inflation -The difference between real and nominal values of income, wages, and interest rates -The problems of deflation and disinflation ? Inflation: Most common complaint: an increase in the price level makes everyone poorer- does not make everyone poorer Real Wage: the wage rate divided by the price level Real income: income divided by the price level Inflation Rate: the percent change per year in a price index?typically the consumer price index the percent increase in the overall level of prices per year ? ? The level of prices doesn?t matter Reducing prices = Reducing income

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