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Chapter 13, Section 2 Key Terms inflation: a general increase in prices across an economy purchasing power: the ability to purchase goods and services.
Linear vs. Exponential: Linear: a fixed absolute amount of change per unit of time but the percentage change varies across time. Exponential relationship:
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Chapter 13: Economic Challenges Section 2. Copyright © Pearson Education, Inc.Slide 2 Chapter 13, Section 2 Objectives 1.Explain the effects of rising.