⭐️ INFLATION

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5 Terms

1
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What is CPI?

A measure of the price of a fixed basket of goods.

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How do you calculate inflation?

(CPInew − CPIold) / CPI_old.

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What is substitution bias?

CPI overstates inflation because people switch goods.

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Who is hurt by inflation?

Savers

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Who benefits from inflation?

Borrowers.