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Essay / Research Paper Abstract
A 3 page paper answering 3 questions addressing the economic concepts of inflation, purchasing power, money and the consumer price index (CPI). Bibliography lists 3 sources.
Page Count:
3 pages (~225 words per page)
File: CC6_KSeconDQsMon.rtf
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Unformatted sample text from the term paper:
Under what conditions would it not redistribute purchasing power? What would be an example of either circumstance that you have been involved in?
Any cash purchases could be directly and quickly affected by inflation to redistribute purchasing power. The same loaf of bread that cost $1.50 in recent weeks may increase
to $1.59 in a short period of time given a 6% rate of inflation ($1.50 x .06 = $0.09) and with all other qualities remaining constant. Because vendors, suppliers,
shippers and every other part of the supply chain is paying more for goods and services, they are likely to increase their prices as well so that the price of
the same loaf bread to the consumer is more likely to be $1.65 or $1.69. Regardless of how price increases affect the final
retail cost, the consumer still has the same amount of money available to him at the $1.59 price as at the $1.50 price. Paying more for the loaf of
bread means that the consumer has nine cents less to spend on something else. Though a price difference of less than a dime on a single inexpensive item is
hardly noteworthy, it negatively affects the consumers purchasing power when everything that the consumer purchases is undergoing the same changes. The consumer may not reduce total spending, but s/he
will be able to buy fewer items with the same amount of money. Inflation does not redistribute purchasing power in credit transactions.
Though the price of a pair of shoes paid for with a Visa(r) card may have increased under the influence of inflation, the consumer will be paying for that purchase
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