national income and inflation
National income refers to the total value of goods and services produced within a country's borders in a given period. Inflation, on the other hand, refers to the persistent increase in the average price level of goods and services in an economy, resulting in a decrease in the purchasing power of money.
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Related Concepts (1)
Similar Concepts
- inflation
- inflation and deflation
- inflation and fiscal sustainability
- inflation rate
- inflation rates
- national income and consumption
- national income and economic development
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- national income and taxation
- national income growth
- national income measures
- national income statistics
- real national income