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Economics and Inflation

Shortcuts: Differences, Similarities, Jaccard Similarity Coefficient, References.

Difference between Economics and Inflation

Economics vs. Inflation

Economics is the social science that studies the production, distribution, and consumption of goods and services. In economics, inflation is a sustained increase in price level of goods and services in an economy over a period of time.

Similarities between Economics and Inflation

Economics and Inflation have 35 things in common (in Unionpedia): Adam Smith, Aggregate demand, Allocative efficiency, Austrian School, Central bank, David Ricardo, Economic efficiency, Economic growth, Economics, Exchange rate, Fiscal policy, Floating exchange rate, Goods, Keynesian economics, Labour economics, List of national and international statistical services, Milton Friedman, Monetarism, Monetary policy, Money supply, Nobel Memorial Prize in Economic Sciences, Nominal rigidity, Opportunity cost, Post-Keynesian economics, Potential output, Price level, Purchasing power, Quantity theory of money, Rational expectations, Real versus nominal value (economics), ..., Recession, Scarcity, Structural unemployment, Supply and demand, Unemployment. Expand index (5 more) »

Adam Smith

Adam Smith (16 June 1723 NS (5 June 1723 OS) – 17 July 1790) was a Scottish economist, philosopher and author as well as a moral philosopher, a pioneer of political economy and a key figure during the Scottish Enlightenment era.

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Aggregate demand

In macroeconomics, aggregate demand (AD) or domestic final demand (DFD) is the total demand for final goods and services in an economy at a given time.

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Allocative efficiency

Allocative efficiency is a state of the economy in which production represents consumer preferences; in particular, every good or service is produced up to the point where the last unit provides a marginal benefit to consumers equal to the marginal cost of producing.

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Austrian School

The Austrian School is a school of economic thought that is based on methodological individualism—the concept that social phenomena result from the motivations and actions of individuals.

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Central bank

A central bank, reserve bank, or monetary authority is an institution that manages a state's currency, money supply, and interest rates.

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David Ricardo

David Ricardo (18 April 1772 – 11 September 1823) was a British political economist, one of the most influential of the classical economists along with Thomas Malthus, Adam Smith and James Mill.

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Economic efficiency

Economic efficiency is, roughly speaking, a situation in which nothing can be improved without something else being hurt.

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Economic growth

Economic growth is the increase in the inflation-adjusted market value of the goods and services produced by an economy over time.

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Economics is the social science that studies the production, distribution, and consumption of goods and services.

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Exchange rate

In finance, an exchange rate is the rate at which one currency will be exchanged for another.

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Fiscal policy

In economics and political science, fiscal policy is the use of government revenue collection (mainly taxes) and expenditure (spending) to influence the economy.

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Floating exchange rate

A floating exchange rate (also called a fluctuating or flexible exchange rate) is a type of exchange-rate regime in which a currency's value is allowed to fluctuate in response to foreign-exchange market mechanisms.

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In economics, goods are materials that satisfy human wants and provide utility, for example, to a consumer making a purchase of a satisfying product.

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Keynesian economics

Keynesian economics (sometimes called Keynesianism) are the various macroeconomic theories about how in the short run – and especially during recessions – economic output is strongly influenced by aggregate demand (total demand in the economy).

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Labour economics

Labour economics seeks to understand the functioning and dynamics of the markets for wage labour.

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List of national and international statistical services

The following is a list of national and international statistical services.

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Milton Friedman

Milton Friedman (July 31, 1912 – November 16, 2006) was an American economist who received the 1976 Nobel Memorial Prize in Economic Sciences for his research on consumption analysis, monetary history and theory, and the complexity of stabilization policy.

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Monetarism is a school of thought in monetary economics that emphasizes the role of governments in controlling the amount of money in circulation.

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Monetary policy

Monetary policy is the process by which the monetary authority of a country, typically the central bank or currency board, controls either the cost of very short-term borrowing or the monetary base, often targeting an inflation rate or interest rate to ensure price stability and general trust in the currency.

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Money supply

In economics, the money supply (or money stock) is the total value of monetary assets available in an economy at a specific time.

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Nobel Memorial Prize in Economic Sciences

The Nobel Memorial Prize in Economic Sciences (officially Sveriges riksbanks pris i ekonomisk vetenskap till Alfred Nobels minne, or the Swedish National Bank's Prize in Economic Sciences in Memory of Alfred Nobel), commonly referred to as the Nobel Prize in Economics, is an award for outstanding contributions to the field of economics, and generally regarded as the most prestigious award for that field.

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Nominal rigidity

Nominal rigidity, also known as price-stickiness or wage-stickiness, describes a situation in which the nominal price is resistant to change.

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Opportunity cost

In microeconomic theory, the opportunity cost, also known as alternative cost, is the value (not a benefit) of the choice in terms of the best alternative while making a decision.

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Post-Keynesian economics

Post-Keynesian economics is a school of economic thought with its origins in The General Theory of John Maynard Keynes, with subsequent development influenced to a large degree by Michał Kalecki, Joan Robinson, Nicholas Kaldor, Sidney Weintraub, Paul Davidson, Piero Sraffa and Jan Kregel.

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Potential output

In economics, potential output (also referred to as "natural gross domestic product") refers to the highest level of real gross domestic product (potential output) that can be sustained over the long term.

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Price level

The general price level is a hypothetical daily measure of overall prices for some set of goods and services (the consumer basket), in an economy or monetary union during a given interval (generally one day), normalized relative to some base set.

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Purchasing power

Purchasing power (sometimes retroactively called adjusted for inflation) is the number and quality or value of goods and services that can be purchased with a unit of currency.

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Quantity theory of money

In monetary economics, the quantity theory of money (QTM) states that the general price level of goods and services is directly proportional to the amount of money in circulation, or money supply.

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Rational expectations

In economics, "rational expectations" are model-consistent expectations, in that agents inside the model are assumed to "know the model" and on average take the model's predictions as valid.

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Real versus nominal value (economics)

In economics, a real value of a good or other entity has been adjusted for inflation, enabling comparison of quantities as if prices had not changed.

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In economics, a recession is a business cycle contraction which results in a general slowdown in economic activity.

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Scarcity refers to the limited availability of a commodity, which may be in demand in the market.

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Structural unemployment

Structural unemployment is a form of unemployment caused by a mismatch between the skills that workers in the economy can offer, and the skills demanded of workers by employers (also known as the skills gap).

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Supply and demand

In microeconomics, supply and demand is an economic model of price determination in a market.

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Unemployment is the situation of actively looking for employment but not being currently employed.

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The list above answers the following questions

Economics and Inflation Comparison

Economics has 511 relations, while Inflation has 183. As they have in common 35, the Jaccard index is 5.04% = 35 / (511 + 183).


This article shows the relationship between Economics and Inflation. To access each article from which the information was extracted, please visit:

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