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What does 2.9% inflation mean?
A
The real value of the savings falls.
B
They weaken aggregate demand.
C
Prices are 2.9% higher than a year earlier, on average.
D
A firm cannot judge what a contract's value will be when it is eventually paid.
Card 1 of 22
3.4.1 Price stability and inflation Flashcards
22 flashcards on OCR GCSE Economics 3.4.1 Price stability and inflation: the key terms, formulae and calculations you need to recall for Component 01 and Component 02.