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Types-cost-push and demand-pull-using the phillips curve

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Reference no: EM132601286

Inflation can be categorized into two types-cost-push and demand-pull-using the Phillips curve. A cost-push inflation increase comes from the πe and ρt terms, while demand-pull comes from the output gap. Use this information to categorize the following economic situations:

(a) Positive inflation gap and positive output gap.

(b) Positive inflation gap and negative output gap.

Reference no: EM132601286

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