Download British Council Economics Notes PDF Free - Full Version
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About British Council Economics Notes
This document discusses inflation, including: 1. It defines inflation as a sustained increase in the general price level of an economy, reducing purchasing power. Inflation can be anticipated or unanticipated. 2. It describes how inflation is measured using changes in the consumer price index from a base year. Mild inflation is under 2% annually, while hyperinflation sees prices rise over 100%. 3. Inflation has two main types - demand-pull, caused by excess aggregate demand, and cost-push, caused by supply constraints. Demand-pull inflation occurs when rising aggregate demand outstrips available supply, pushing prices up.
Detailed Information
| Author: | ['Gomez Goh'] |
|---|---|
| Publication Year: | 2020 |
| Pages: | 20 |
| Language: | English |
| Format: | |
| Price: | FREE |
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