Inflation causes the price of goods and services to "rise" over time, since the amount of money in circulation increases which decreases the value of the currency itself--thus increasing the amount of currency it takes to buy a certain product.
Answer: Rising costs in housing, food, and utilities will likely have a negative impact on a family's standard of living.
Explanation:
Inflation is a general rise in prices of goods and services in a country. If a country suffers from high inflation, goods and services will see their prices rise even more.
More often than not, people's wages do not rise as inflation rises or at least not at the same rate. This means that families will be unable to keep buying the goods they were normally able to buy as they can no longer afford it. Switching to inferior goods or neglecting to buy those goods anymore will have a negative impact on the standards of living of the families.
Einstein's life essentially revolved around solving the world's mysteries, making him a pioneer in challenging the collective view of science.
