Term: Inflation
Definition:A phase of the business cycle characterized by abnormally high prices, a decrease in the purchasing power of money, and spiraling costs and wage rates. Inflation may occur when purchasing power is in excess of goods and services for sale, and/or buyers stampede to convert money into commodities or when production costs and prices advance to consecutively higher levels.
To find keyword content within a course, select the course link below.
Course | Page Number |
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78 - Salary Increase Planning | 3 |
04 - Organization Salary Determinations | 18 |
92 - Expatriate Compensation | 12 |
ERI Economic Research Institute is recognized by SHRM to offer Professional Development Credits (PDCs) for the SHRM-CP® or SHRM-SCP®