2. Reflect on how inflation, recession and depression affects you? Your family? The general population? Explain your thoughts in a short paragraph (5-7 sentences).4. Who are the losers in times of high inflation? In times of recession? In times of depression? Provide specific examples to support your answer.5. What can be done to minimize effects of difficult times due to high inflation, recession and/or depression? Provide specific examples to support your answer.