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Effect of inflation on wages - Research Paper Example

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Inflation means the rate of rising of the level of prices for goods and services while at the same time the purchasing power of goods and services is falling. Other definitions describe inflation as the uprising movement in the moderate level of items. …
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Effect of inflation on wages
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"Effect of inflation on wages"

Download file to see previous pages Inflation denotes an unfavorable situation in the economy of a nation. On the other hand, wages refer to a form of remuneration offered to an employee by an employer of a particular company in exchange for services rendered. The paper will determine the fact whether inflation has a negative or positive effect on wages of employees in institutions of a particular country. Upon getting the findings, the paper will further analyze what is expected to be done to avert the effect on the inflation. In order to answer these critical questions, I will sample data from a few companies that will act as the representative samples of companies across the country. After the exercise of data collection, I will record it using favorable methods then analyze it scientifically in order to draw varied conclusions from it. By so doing, the research question will be answered. I have ensured that the methods used for data collection and recording are effective so that the findings drawn from the data are effective. I have used both quantitative and qualitative methods for the processes of data collection and recording. This will ensure that the data collected has no bias and is effective in answering the research question. To determine the rate of inflation, will need collection of values of inflation over time and the correlated change in the wages of employers that cut across companies in the country. The analysis of the collected data will; require scientific methods because issues to do with economies ought to be projected by professionals who are well versed with the research topic. This would require economic analysts in my research team. Choosing the methods for data collection is another important factor because some methods are more suited in collecting particular types of data as compared with others. Others are also more suited in recording some data types as compared to others. This disparity in the methods depends also on the nature of the respondents from which the data is collected from. Some may be willing to give data to a research team while some may be uncooperative in giving the data out. The research team is, therefore, required to develop a good rapport with the respondents so that they are able to collect optimal data for analysis. Another important thing in answering research questions is ensuring that the equipment for data collection are in a good order so that the research team is not frustrated in the fieldwork day for the actual process of data collection and analysis. To avoid any mishaps in data collection, all equipment should be investigated and checked days to the actual day of research. In discussing the research issue, I will first give a literature review of the research topic. I will then give a strategy for the hypothesis of the topic. The last section will illustrate the data methods used, their efficacy and the findings. I will then give a conclusion of the research topic. Literature Review Inflation is a noteworthy aspect of any nation’s economy. It is opposed to deflation which describes the downward spiral in the average prices of goods and services. It is, therefore, clear that the only difference in inflation and deflation is the aspect of price stability. There is also a strong link between inflation and money in any country. Because it is a rise in the general level of prices of goods and services, it implies it is extremely linked to money. By being intrinsically linked to money, inflation has an effect on the economy of a country. It affects many aspects of the economy and the nature of cash flow in a country. As a result of this, it is extremely important to study the effect of ...Download file to see next pagesRead More
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