Talk About:  John Slidell​

question 107

Essay

Talk about:  John Slidell​

---

Definitions:

Purchasing Power

The ability of an individual, firm, or group to purchase goods and services with a given unit of currency.

Price Level

The average cost across all sectors of goods and services produced in the economy.

Percent

A mathematical term describing a fraction or ratio as parts per hundred, used to indicate proportions and changes in quantities.

Deflation

A decline in the general price level of goods and services, often indicating a reduction in the supply of money and credit in the economy.