What does inflation mean? economically viewed...what are important dates/events in history?
Answer:
inflation is an overall increase in the price level. This includes wages so real income in unaffected directly by inflation. The real killer is that the money you currently hold is worth less then before (it buys you less)
inflation has always been around so key dates depend on what you are talking about in the particular class. Rome had inflation, the black death created deflation, spanish gold from the new world created inflation, etc...
Inflation refers to a general rise in prices measured against a standard level of purchasing power.
Are you looking for dates/events in history when insights of inflation were revealed or dates/events when inflation affected economies of countries?
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