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Causes purchasing power to fall.
Increases purchasing power of money.
By tracking changes in the price level.
Occurs when demand exceeds supply.
Happens when production costs rise.
Workers demand higher wages to maintain living standards.
They become less competitive internationally.
Higher inflation typically leads to increased interest rates.
People willing to work cannot find jobs.
By the percentage of the labor force without jobs.
An extreme increase in price levels, often over 50% monthly.
Occurs when jobs depend on specific seasons.
When individuals choose not to work despite job availability.
Short-term unemployment between jobs.