Economics 12th Edition by William Baumol, Alan S Blinder

تمرين 1

Show why each of the following complaints is based on a misunderstanding about inflation:
a. "Inflation must be stopped because it robs workers of their purchasing power."
b. "Inflation makes it impossible for working people to afford many of the things they were hoping to buy."
c. "Inflation must be stopped today, for if we do not stop it, it will surely accelerate to ruinously high rates and lead to disaster."