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The study of inflation is part of:
Normative economics.
Macroeconomics.
Microeconomics.
Descriptive economics
Inflation reduces the purchasing power of each unit of currency, which leads to increases in the prices of goods and services over time. Inflation, no doubt, is a macroeconomic variable since it takes into account the nation as a whole - affecting almost every sector in the economy on the broader front. Actually, this inflation aka inflationary gap in economics, is created by the excess of aggregate demand over aggregate supply
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