2 QUESTION ONE: The aggregate demand/aggregate supply model (a) () On Graph One, shift the AD or AS curve to illustrate demand-pull infation Graph One: AD/AS model of the New Zealand Economy Price level AS

2 QUESTION ONE: The aggregate demand/aggregate supply model (a) () On Graph One, shift the AD or AS curve to illustrate demand-pull infation Graph One: AD/AS model of the New Zealand Economy Price level AS

MACROECONOMICS

14th Edition

ISBN:9781337794985

Author:Baumol

Publisher:Baumol

Chapter6: How Statisticians Measure Inflation

Section: Chapter Questions

Problem 3TY

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QUESTION ONE: The aggregate demand/aggregate supply model
(a) () On Graph One, shift the AD or AS curve to illustrate demand-pull inflation
Graph One: AD/AS model of the New Zealand Economy
Price
level
2
PL
Y
AD
Using Graph One, explain two causes of demand-pull inflation.
Real GDP

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