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10 cards from this deck
Sustained rise in general level of prices
Tracks UK inflation by monitoring price changes
Inflation from excessive demand in the economy
Inflation when rising production costs push prices up
Workers demand higher wages→costs rise→prices rise→cycle repeats
Makes UK exports more expensive & less competitive globally
Decrease in general price level of goods and services
UK exports expensive for foreign buyers (bad for exporters)
UK exports cheaper for foreign buyers (good for exporters)
Value of one currency measured against another currency
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