Question

What is inflation in economics for engineers?

Answer 1

Answer:

Engineering economics poses numerous benefits because it allows those in industry to make strategic decisions for their companies. While macroeconomic and financial competencies are key for business operations, engineering economics further provides a mechanism for decision-making.

Answer 2

Explanation:

Number of dollars associated with a cash flow when it occurs. :-

• Synonyms: Nominal, current, inflated dollars. •

Real dollars. –

• Dollars adjusted to a common purchasing power. – Synonym: Constant.