When prices rise faster than wages, consumption is discouraged, which eventually discourages production and slows the economy from a boom condition to a more manageable rate of growth.

Authors

• Person: Not available Organization: Nicolet College
  Systemic or “Macro” Factors that Affect Financial Thinking

Sources

• Systemic or “Macro” Factors that Affect Financial Thinking nicoletcollege.pressbooks.pub Nicolet College via serper

Referenced by nodes (2)

• consumption concept
• prices concept