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Inflation: definition, types, and causes
Understanding some key economic principles that could affect your income during this covid-19 pandemic is critical. We will take a look at inflation and other important information. About inflation Inflation is the reduction in the purchasing strength of a nation's currency during a period. It is expected that countries that don't produce enough and depend sorely on imported products will have problems with inflation during this period. This is because many nations are on lockdown. For nations in this conundrum, inflation is unavoidable. To counter inflation, most countries use financial authorities, like the central bank, to take drastic necessary measures by making credit scarce to keep inflation within the range they would be able to an economy running smoothly. Causes of...
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