Question
(12 marks) Inflation is costly to our life for various reasons. Some are sensible in economics terms while others are not. a. Inflation hurts my
(12 marks) Inflation is costly to our life for various reasons. Some are sensible in economics terms while others are not.
a. "Inflation hurts my real buying power. It makes me poorer." (Mankiw (2019). Macroeconomics, p.118) Why don't most economists take this as a cost of inflation? (3 marks)
b. Explain THREE costs of inflation from an economist's perspective. (9 marks)
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Austro-corporatism Past, Present, Future
Authors: Gunter Bischof
1st Edition
1000675858, 9781000675856
