1Economics 102Lecture 12: The Costs of InflationLECTURE 12THE COSTS OF INFLATION1The Costs of Inflation❧Why do we care about inflation? If incomes rise as prices rise, what is the problem?LECTURE 12THE COSTS OF INFLATION2In this lecture, look for the answers to these questions:❧How is inflation like a tax?❧How does inflation affect interest rates?❧What are the costs of inflation? How serious are they?
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