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August 29, 2014

Homework Help: eco

Posted by anonymous on Sunday, July 8, 2007 at 5:28pm.

how might a high school student's experience with inflation diff from an employed urban adult?

A high school student is more apt to be on a fixed income with few if any increases. S/he may be working for close to minimum wage or depend upon an allowance from parents. If the cost of soft drinks, hamburgers, movies, clothes, etc., increase, the teen wouldn't be able to buy as much during inflationary times. The employed urban adult is more likely to see his/her salary increase in line with inflation.

It could also be that the High School student receives most of his or her support from parents. If that is the case and IF the parent is not on a fixed income then the effects of inflation would be minimized.

In some situations the High School student might benefit from inflation if his parents benefit. Even though inflation has been called the cruelest tax of them all there are groups that benefit from inflation such as those who are creditors and those whose income may increase more than the inflation rate.

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