..................Lets say that the annual rate of inflation in the economy is 8%. If you bought an Ipad today for $100.00, how much will it cost in two years? The price, in two years, will be $116.64. The inflation rate is the speed at which money looses its purchasing power mainly because the supply of money in the economy exceeds the level necessary for consumers to exchange goods and services at the current level of demand.
Posted on: Sun, 04 Jan 2015 18:56:32 +0000
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