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Money is a commodity globally accepted as a medium of exchange while inflation is the decline of the purchasing power of a currency over time. A study of the relationship between money & inflation is a topic concerned with how the fluctuations in the money supply affect inflation. For example, when the money supply is increased faster than real output, there will be more money chasing the same goods; hence, inflation, and vice versa.
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Can you take my Economics Test Questions on Demand and Supply?
To begin with, the topic "Demand and Supply" is concerned with the relationship between the number of goods and services that producers wish to sell and those that consumers are willing to purchase. It's one of the broadest, most popular, and most essential sub-topics in economics. Learning it is interesting as you get to understand everything about equilibrium, changes in the demand and supply curve, and related knowledge areas.
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