At the end of the lesson, students should be able to:
Define inflation and deflation. - Measure inflation and deflation using the
Retail Prices Index (RPI).
Explain - causes of inflation: demand-pull and cost-push. Causes of
deflation: demand-side and supply-side.
Consequences of inflation and deflation - for consumers, workers, savers,
lenders, firms and the economy as a whole. Range of policies to control
inflation and deflation and how effective they might be.
‘Class Activities’ & ‘Multiple Choice Questions’ with Answers
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