What is asset price inflation? Why does it matter? True or false? Inflation, on average, makes people neither richer nor poorer. Therefore it has no cost. Explain. What are three costs of inflation...

What is asset price inflation? Why does it matter? True or false? Inflation, on average, makes people neither richer nor poorer. Therefore it has no cost. Explain. What are three costs of inflation that economists focus on? When would policy makers change from an inflation target being an upper bound to a target to aim for? When would this policy fail to produce the expected result?