When expectations of this phenomenon based on past events become incorporated into a system, the result is known as the built-in type of this, part of Gordon's triangle model.
When expectations of this phenomenon based on past events become incorporated into a system, the result is known as the built-in type of this, part of Gordon's triangle model. It can cause losses from menu costs, and prevents liquidity traps by keeping the (*) nominal interest rate positive. It also occurs in demand-pull and cost-push types and is often measured using the change in the Consumer Price Index. It can be caused by rapid growth of the money supply, as in the "hyper-" version of it experienced in Zimbabwe. For 10 points, name this economic concept describing the loss of purchasing power as the general price of goods increases.
When expectations of this phenomenon based on past events become incorporated into a system, the result is known as the built-in type of this, part of Gordon's triangle model.
{inflation}