Describe unexpected deflation
Describe unexpected deflation?
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Unexpected deflation is a decrease in cost level, will have the contrary effect of unexpected inflation. Lots of families are at the same time helped and hurt by inflation because they are both borrowers and earners and savers. Effects of inflation are arbitrary, regardless of society’s goals.
Illustrate the term Positive and Normative Economics?
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Elucidate redistribution of income?
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How will the system accommodate change?
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