The Costs of Inflation (module 18)
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14 Terms
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inflation
an increase in the price level
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real wage
the wage rate divided by the price level
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real income
income divided by the price level
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deflation
when the inflation rate turns negative
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interest rate
the return a lender receives for allowing borrowers the use of their savings for one year, calculated as a percentage of the amount borrowed
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nominal interest rate
the interest rate expressed in dollar terms
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real interest rate
nominal interest rate minus rate of inflation
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disinflation
brining the inflation rate down
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Note 
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