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Explain the Demand Pull Inflation
Demand Pull Inflation: Occurs when aggregate demand exceeds aggregate supply. If there is an excess level of demand in the economy, this will tend to cause prices to increase. This type of inflation is known as demand-pull inflation and is argued by Keynesians to be one of the major causes of inflation. Demand-pull inflation is essentially "too much money chasing too few goods."
EMPLOYMENT AND UNEMPLOYMENT POLICY: Engagement of a person in any economic activity is central to the concept of identifying a worker. A worker is one who participates in any
Define the term “cross elasticity of demand” (2 marks) Price of commodity X (SH) Demand for commodity X (Units) 12 80 16 100 20 120 24 140 28 160 d) The following data relate to a
Movements of the demand curve itself, either to the left or right are known as changes in demand. A change in demand is caused by a change in one or more of the nonprice determina
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State the example of price and price level Create a basket which contains all the goods sold by a specific store on a specific day. Price of this basket is then a price level -
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