Chase is a recent college graduate with a new job as an engineering trainee for a large defense company.Now that he is making good wages,he hopes to start saving for his first house and also contribute toward the company retirement plan.As he looks over his monthly bills,Chase is concerned about ever getting ahead of the game.His food bill,car payment,and mounting gasoline payments keep him in the "just making ends meet" category.As his mind wanders back to the good old college days,he reflects on a time when gas and food seemed a lot more reasonable.Chase is experiencing the effects of:

Question

Quizplus · Accepted Answer

Chase's concern about the rising prices of food, gasoline, and other expenses suggests that he is experiencing the effects of inflation. Inflation is the general increase in prices of goods and services over time, which reduces the purchasing power of money. This can make it challenging for individuals like Chase to save money and get ahead financially, especially when their incomes do not keep up with rising prices.

Chase Is a Recent College Graduate with a New Job