After a long and brutal civil war, Princess Sofia the First of Enchancia has finally emerged victorious.

After a long and brutal civil war, Princess Sofia the First of Enchancia has finally emerged victorious. With the heads of her siblings, James and Amber, safely placed atop spikes on the castle walls, Sofia can begin the process of rebuilding her kingdom. She has hired you as an economic advisor to assist. Much of the kingdom’s records were destroyed in the fighting. Incomplete data has been provided to you in the hope that you can figure out the missing numbers.

As part of the effort to place Enchancia’s economy on a sound footing, Princess Sofia knows that good statistics are required. To that end, she like you to explain how Enchancia should go about establishing a measure of inflation as it impacts consumers. What would you suggest? How would it work over time?

Solutions

Expert Solution

As the civil war for the kingdom was long and brutal and is expected that it will have affected the whole kingdom area which eem to be nothing at the moment.I would suggest Enchancia to establish the measure of inflation through the money supply or currency supply among the consumer which will causes them to first invest in the staple .grocery or other stuffs from outer markets and import here In this way the domestic kingdom economy can be boosted.And the inflation is controlled thorugh the money upply upto a certain level which will be preset .After the inflation reaches a threshold the taxation can be applied in the kingdom consumer so that further economic development can take place.This way I would like to suggest the Enchancia to got on establishing a measure of inflation as it impact consumer .Also further the output growth will be conidered along with its consumption in order to make the market more economically efficient.

Rahul Sunny answered 2 years ago

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