Inflation and Unemployment

Inflation and Unemployment
In the following paper, we are going to assess inflation and unemployment with the Internet article, People Prefer Inflation to Prospect of Job Loss. Justin Wolfers, an assistant professor of political economy at the Stanford Graduate School of Business, is the author of this article. In this analysis of the article, we are going to provide definitions of inflation and unemployment. Then, we are going to consider the economic impact of the main points in the article on the economy and society’s feelings toward unemployment.
In order to provide a clear understanding of our article, we are going to define the terms inflation and unemployment. According to David Colander, inflation is “a continual rise in the price level” (Macroeconomics, p. 148). This reflects how much the prices in an economy have risen over time. The increase of prices of goods over time is the price index; therefore, the price index is a measurement of time compare...