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- If inflation rises unexpectedly by 5, indicate for each of the following whether the economic actor is helped, hurt, or unaffected: A union member with a COLA wage contract Someone with a large stash of cash in a safe deposit box A bank lending money at a fixed rate of interest A person who is not due to receive a pay raise for another 11 monthsIf, over time, wages and salaries on average rise at least as fast as inflation, why do people worry about how inflation affects incomes?The total price of purchasing a basket of goods in the United Kingdom over four years is: year 1=940, year 2=970, year 3=1000, and year 4=1070. Calculate two price indices, one using year 1 as the base year (set equal to 100) and the other using year 4 as the base year (set equal to 100). Then, calculate the inflation rate based on the first price index. If you had used the other price index, would you get a different inflation rate? If you are unsure, do the calculation and find out.
- ( please solve ASAP definitely I will give you thumbs up . Thanks you ) Rosa received a 2% raise at work and her coworker, Amy, received a 5% raise. Inflation is currently 2.6%. Did Rosa’s standard of living increase? Briefly explain your answer. List two flaws with using the consumer price index to measure inflation.What is inflation ? Briefly explain the costs of inflation . Use your outlined cost of inflation with examples to discuss whether inflation is better than deflation .