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gcse economics - the big picture: inflation - introduction
18.08.2008
This means an increase in the average price level over a year. e.g. on average prices may increase by 5% during 2001. If prices increase by 5% it also means that money can buy 5% fewer goods than in the previous year. Therefore inflation leads...

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Added by: LadyAngelPL
Category: Revision note
Course: Economics and Business
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