Question
Inflation is a critical subject in today's economy. The inflation rate has been fairly low over the past decade, but that doesn't mean it will
Inflation is a critical subject in today's economy. The inflation rate has been fairly low over the past decade, but that doesn't mean it will continue to stay at that level as seen this past year. This discussion question concerns how inflation affects the economy overall, certain groups in the economy, and individuals like you and me. Please find a product that you normally buy. Each student must find a different product. Calculate the inflation adjusted price it should be now based on the original price for 1995 and see what the current price is compared to the calculated price. Has inflation affected the current price or have some other factors affected the price more? Make the above part of your answer to paragraph a). Additionally for paragraph a), answer how inflation affects the economy, certain groups in it, and specifically how it has affected you. For paragraph b), make sure you discuss what group/s inflation hurts the most and why? And in paragraph c), determine if there is anything you can do to protect yourself from inflation.
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