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Explain Inflation, Stagflation, Recession, Depression and Expansion

Inflation, stagflation, recession, depression, expansion, and contraction are commonly used terms in economics and the media. What do these terms mean? In your explanation, discuss how some of these terms are related.

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The response addresses the queries posted in 618 words with references.

//The explains the meaning of various terms used in economics and the media in simple and precise terms. As per the directions, in this part we will talk about inflation, stagflation, recession, depression, expansion and contraction. The given discussion helps in understanding the given terms in a clear way.//

Inflation: Inflation is defined as an increment in the value of money in concern to the goods and service supply. In general terms, inflation means a decrease in the value of money. Basically, it is a position in which goods and service prices are increasing on one side and value of money decreasing on other (McEachern, 2008).

Stagflation: Stagflation is defined as a state that reflects a rise in the level of price, instead of the existence of high unemployment. In simple terms, it is referred as the condition in which rate of inflation and unemployment, both are high or increases ...

Solution Summary

This solution explains the meaning of various terms used in economics and the media in simple and precise terms. As per the directions, in this part we will talk about inflation, stagflation, recession, depression, expansion and contraction. The given discussion helps in understanding the given terms in 618 words.

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