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2 cards from this section. Quick, good the night before a test.
Define inflation in your own words.
Think about what happens to prices over time.
What happens to purchasing power when inflation rises?
Consider how much you can buy with the same amount of money.
What does inflation refer to?
Think about how prices change over time.
True or False: Inflation increases purchasing power.
Consider what you can afford with money over time.
If the inflation rate is 4% annually, how much will a $100 item cost five years from now?
Use the formula for future value under inflation.
Discuss the implications of low inflation versus hyperinflation on consumer behavior.
Consider the psychological effects of price changes on spending habits.
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