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HS Economics
| Question | Answer |
|---|---|
| Price Level | Average of all good's orices in an economy. |
| Inflation | Price level increase. |
| Deflation | Price level decrease. |
| CPI | Consumer price index. |
| Inflation Rate Equation | [(CPI in Later Year - CPI in Earlier Year) / CPI in Earlier Year] * 100 |
| Demand Side Inflation | When an increase in price level originates on the demand side. |
| Supply Side Inflation | When an increase in price level originates on the supply side. |