Question

state and explain econometrics and inflation

Answer 1

• A more exact definition of inflation is a sustained increase in the general price level in an economy. Inflation means an increase in the cost of living as the price of goods and services rise.
• Inflation occurs when the prices of goods and services rise, while deflation occurs when those prices decrease. The balance between these two economic conditions, opposite sides of the same coin, is delicate and an economy can quickly swing from one condition to the other.
• Inflation is an economic term that refers to an environment of generally rising prices of goods and services within a particular economy. As general prices rise, the purchasing power of consumers decreases. ... For example, prices for many consumer goods are double that of 20 years ago.
• There are three main types of inflation: demand-pull, cost-push, and built-in inflation. Demand-pull inflation occurs when the overall demand for goods or services increases faster than the production capacity of the economy. Cost-push inflation happens as a result of an increase in the cost of production

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