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I think you're misunderstanding the point because it's badly stated. Basically they say that inflation happens when money increases but the things paid for with
by brazzy 13y ago
I think you're misunderstanding the point because it's badly stated. Basically they say that inflation happens when money increases but the things paid for with money do not. For the lattery they use specie as a proxy - you need the exchange rate between money and something to actually measure inflation, but specie is a somewhat confusing choice because it's often considered (and sometimes defined) to be money.