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Economics / Principles of Economics 6 / Chapter 1 / Problem Chapters for Review 1.9

Principles of Economics | 6th Edition | ISBN: 9780538453059 | Authors: N. Gregory Mankiw

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What is inflation and what causes it

Chapter 1, Problem Chapters for Review 1.9

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What is inflation and what causes it?

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What is inflation and what causes it?

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Problem 1.9

What is inflation and what causes it?

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In economics, inflation is a concept where there is a persistent increase in the average price level of various commodities in an economy. In simple words when there is an increase in the price level of a good or service in a certain market then it can be said that a particular market is witnessing inflation, keeping other factors constant.

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