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Demand-pull inflation is when aggregate demand exceeds the value of output (measured in constant prices) at full employment. The excess demand of goods and services cannot be met in real terms and therefore is met by rises in the prices of goods. Demand-pull inflation could be caused by:
Monetarist economists believe that "inflation is always and everywhere a monetary phenomenon in the sense that it can only be produced by a more rapid increase in the quantity of money than in output" as Friedman wrote in 1970.
The monetarist's theory is based upon the identity:
M x V = P x T
And thus this was turned into a theory by assuming that V and T are constant. Thus, we would obtain the formula
MV = PT
Basic textbook models, such as the Mundell-Fleming model, say that capital inflow happens due to the domestic interest rate being higher than the world interest rate, and therefore
sample assignment
why firms under oligopoly market should follow price rigidity?
Q. Construction of an explanatory model? Construction of a sample: To apply multiple regression a large sample is generally essential (ideally between 2,000 to 15,000 indivi
Usually, elasticity of a demand curve throughout its length isn't the same (Fig. below). It varies between 0 and ∞, or in other words, 0 ≤ e p ≥ ∞ In some cases, though, the
Q. Illustrate about Sales maximisation? The concept that business firms (specifically those operating in the real world) are principally goaded by the aspiration to achieve the
Nature and Functions of Money The concept of money is very difficult to define . it is belongs to the category of things which are not amenable to any single definition. It is p
TC=100+0.15Q, Qu=1000-10Pu
What limitations are inherent in the economist’s view of pricing?
THE ACCELERATION PRINCIPLE Suppose that there is a given ratio between the level of output Y t at any time t , and the capital stock required to produce it K t and that
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