Explain the difference between relative price shifts and the overall inflation rate.

Case
December 25, 2020
What law of association did Guthrie build his theory around?
December 26, 2020

1.       Define inflation, and calculate the inflation rate using the consumer price index (CPI).

2.       Explain the difference between relative price shifts and the overall inflation rate.

3.       Calculate and show how incomes and wages can be adjusted for inflation.

4.       Discuss the impact of unexpected and expected inflation.

5.       Define inflation, and calculate the inflation rate using the consumer price index (CPI)

6.       Explain the difference between relative price shifts and the overall inflation rate

7.       Calculate and show how incomes and wages can be adjusted for inflation.

8.       Discuss the impact of unexpected and expected inflation.