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Principles of Economics 2e

2nd Edition
Steven A. Greenlaw; David Shapiro
ISBN: 9781947172364

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BuyFindarrow_forward

Principles of Economics 2e

2nd Edition
Steven A. Greenlaw; David Shapiro
ISBN: 9781947172364
Textbook Problem

Who in an economy is the big winner from inflation?

To determine

To write: about the section that is the winner in an economy

Explanation

When price of energy, food, commodities and general goods and services increases, the economy will get affected. So, inflation affects the cost of living, cost of running your business, lending and borrowing money rates and many other aspects of the country’s economy.

Inflation can have both positive and negative impact on the country’s economic status. If the inflation rate is too high, the people will suffer and if it is under control the economy shall prosper. In the case of high inflation, the borrowers of money hold an advantageous position...

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