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According to you, what kind of factors leading to an increase in wheat prices, would make it inflation? In our modern economy, prices are often determined by s
by yunohn 5y ago
According to you, what kind of factors leading to an increase in wheat prices, would make it inflation?
In our modern economy, prices are often determined by supply, which can be influenced by factors like climate. Absolutely expected that it would cause inflation.
- gdubs 5y agoTechnically true. But inflation as a function of monetary / fiscal policy is top of mind for many right now — and what most people picture when they hear the word — and so it’s helpful to draw a distinction.