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This week's City Council Scenario:Assume you are the economist for your local government. Your choices to increase spending in order to solve the declining GDP
This week's City Council Scenario:Assume you are the economist for your local government. Your choices to increase spending in order to solve the declining GDP and rising unemployment have left you withhigher inflation.
- Explain what it means to have higher inflation.
- Assess how inflationaffects the people in the community.
- Contrast how inflation affects banks (lenders) versus borrowers in your region. Is there abright side to inflation?
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