Question

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

Answer 1

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.