Term
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Definition
| The situation in which overexpansion of the nation's money supply leads to a sustained rise in the average price level. |
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Term
| Cost of Living Adjustment (COLA) |
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Definition
| An adjustment of wages, payments, & other sums according to inflation levels. |
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Term
| Consumer Price Index (CPI) |
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Definition
| A group of figures measuring changes in prices that household consumers pay for their purchases. |
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Term
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Definition
| The initial period of a survey, such as that for consumer prices, against which changes over time are compared. |
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Term
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Definition
| Tying present wages & prices to some adjustment figure so that real wages & real prices are maintained. |
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Term
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Definition
| Inflation believed to be triggered when a nation's businesses raise their prices, resulting in new demands by consumers for higher wages from their employers. |
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Term
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Definition
| Inflation believed to be triggered when consumers demand more products & the rising demand results in rising prices or wages. |
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