________ can have a significant negative impact on award calculation amounts in personal injury and wrongful death over time.

Question

Quizplus · Accepted Answer

Inflation refers to the increase in the prices of goods and services over time, which reduces the purchasing power of money. This means that the awarded amounts may not be enough to cover future medical expenses, lost wages, and other damages. As a result, future damages may need to be estimated and added to the original award to account for inflation. Deflation, on the other hand, would have the opposite effect and increase the real value of the award over time. The payback period and accounting rate of return are not directly related to award calculation amounts in personal injury and wrongful death cases.

________ Can Have a Significant Negative Impact on Award Calculation