Inflation, according to economists, occurs when the supply of money exceeds the demand for it. When inflation helps to raise consumer demand and consumption, which drives economic growth, it is considered as a positive. Some people believe inflation is necessary to prevent deflation, while others say it is a drag on the economy. Some inflation, […]
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Nursing employment and pay increased during the recession, corroborating prior research that suggested nursing is a recession-resistant, countercyclical profession. Are employment in healthcare recession-proof? Is health-care unaffected by the economic downturn? Is healthcare pandemic-proof, or is that a more accurate question to ask? Surprisingly, the COVID-19 public health catastrophe has wreaked havoc on the healthcare
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With everyone anticipating inflation to continue, workers demanded raises to keep up with growing prices, and employers were eager to give them because their competitors’ costs were projected to rise at the same rate as their own. As a result, inflation became self-perpetuating: everyone was raising prices in anticipation of others rising prices. To break
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Fast-food workers around the United States began demanding a $15-per-hour minimum wage in the 2010s. A typical minimum-wage worker might earn roughly $30,000 per year if their demand is granted and the federal minimum wage is raised to $15 per hour. Will a minimum salary of $15 lead to inflation? Consumer prices rose 5.3 percent
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Inflation is a time in which the price of goods and services rises dramatically. Inflation usually begins with a lack of a service or a product, prompting businesses to raise their prices and the overall costs of the commodity. This upward price adjustment sets off a cost-increasing loop, making it more difficult for firms to
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“While cash isn’t a growth asset, it will typically stay up with inflation in nominal terms if inflation is accompanied by rising short-term interest rates,” she continues. CFP and founder of Dare to Dream Financial Planning Anna N’Jie-Konte agrees. With the epidemic demonstrating how volatile the economy can be, N’Jie-Konte advises maintaining some money in
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Many cryptocurrency supporters consider it to be a digital equivalent of the US dollar, which it is in some ways. Although not every coffee shop accepts Bitcoin or Ethereum, crypto is becoming more popular as a means of payment. Several well-known merchants (and well-known e-tailers) now take bitcoin, and the number of firms taking digital
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The debt-to-GDP ratio is the proportion of a country’s total debt to its total GDP (GDP). The debt-to-GDP ratio can also be thought of as the number of years it would take to repay debt if GDP were used as a measure of payback. The greater the debt-to-GDP ratio, the less likely the country is
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The United States’ economic outlook for 2022 and 2023 is positive, yet inflation will stay high and storm clouds will build in subsequent years. What can be done to bring inflation under control? Inflation Control Through Monetary Policy Inflation can be managed via a contractionary monetary policy, which is a frequent means of doing so.
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For instance, if prices in an economy have risen by 1% since the base year, the deflated number is 1.01. If nominal GDP is $1 million, real GDP equals $1,000,000 divided by 1.01, or $990,099. How is real GDP calculated using price and quantity? What proportion of the growth in GDP is due to inflation
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