What is inflation and how does it tend to have a negative impact on wage and salary workers?

Social Studies

1 answer:

Crazy boy [7]2 years ago

4 0

Answer:

Inflation refers to a situation where there is a general increase in prices for the goods and services sold in the market.

Explanation:

This is generally bad for wage and salary workers because the increase in their earning usually outpaced by the increase in prices. Overtime, This will cause a decrease in standard of living because the amount of products that they can afford using their earnings continue to decrease.

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