Inflation Essay Example | Topics and Well Written Essays - 1750 words

Inflation - Essay Example It’s a change expressed in percentage and compared over a time period. Economists have defined inflation as the sustained general increase in the price of goods and services1. When the prices goes up more money can only pay for fewer goods and services and the currency is said to have lost its purchasing power as the medium of exchange as well as the unit of account in an economy. When the prices goes up the situation is said to be price inflation while the money is in large supply the situation is referred to as monetary inflation2. Several other concepts are related to inflation such as deflation which refers to a fall in the price levels generally while disinflation refers to a rate decrease in inflation while hyperinflation is when the price increase is beyond control3. A general belief among economist is that inflation is caused by excess money supply in the economy which pushes demand for both goods and services. The measure of inflation is done through rating the increase in prices over a specified period of time. Inflation rate is expressed as a percentage and is calculated by working out the change in the price index and more so the consumer price index4. The price index on itself cannot give the rate of inflation but it becomes useful when calculating the inflation rate. This rate is the percentage change rate of price index over a period of time. To calculate the inflation rate the formula below is used The widely used examples of indices to calculated inflation include consumer price index (CPI) which measures change in prices of goods and services (in a fixed basket) purchased by a consumer5. This fixed basket has goods and services put together and are representative of the economy. The producer price index measures price change on average as received by domestic producers. It measures the price paid by producers. It differs from the CPIs in that

Essay Example | Topics and Well Written Essays - 250 words - 178

Essay Example Media practices engross a course of communication between people, and such communicative processes shape societal behavior. This is evident in the materialistic role that cinema, as a form of technology, plays in the society. Larkin cites Nigeria as a country in which cinema creates a fantasy space that comprise the entire sensory experience of urban living and modernity (Larkin, 2002). Technological determinism changes the traditional structures of sociability. Michael Warner asserts that the cultural structure of a medium is a set of political conditions of discourse, such as practices and structured labor referred to as technology (Warner, 1990). News making in the digital era is guide by clicks and spins, as explained by Dominic Boyer (2013). The author explains the communicative process in the digital process from a perspective that sees the process as an unconscious way of reading the mood of the society, who is the object. Similarly, Amanda Weidman confirms that the association of class structures and technological media shape notions of power and realism by dictating which information circulates across the public (Weidman, 2010). Mediating technology and mediated content, which are the subject and object respectively, determine people’s listening practices and psychological