'redistributional costs' in Macroeconomics: UK economy, IB Economics

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‘The fruit bowl is emptier and petrol is shocking’: one family’s experience of soaring cost of living | Inflation | The Guardian | Macroeconomics: UK economy, IB Economics | Scoop.it

From www.theguardian.com - December 3, 2021 7:11 AM

Graham Watson's insight:

A very hands-on look at what higher inflation means for people's living standards, via a look at a 'typical' family.

It might serve as a useful prompt to start you thinking about the costs of inflation - menu costs, shoe-leather costs, redistributional costs and psychological costs. As a point of comparison, you might ask whether the costs of inflation are more significant than the costs of unemployment...

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‘The fruit bowl is emptier and petrol is shocking’: one family’s experience of soaring cost of living | Inflation | The Guardian