How are demand-pull and cost-push inflation reflected in terms of the AD-AS model?
Demand-pull inflation is reflected as a rightward shift of the AD curve that expands real GDP but also increases the price level. Cost-push inflation is reflected as a leftward shift of the AS curve which drives the price level up.
Economics
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Which of the following tools is used to compare the income per capita across countries?
A) Purchasing power parity B) The headcount index C) The GDP deflator D) Production possibilities frontier
Economics
Which of the following is NOT considered a determinant of income differences?
A) productivity B) age C) discrimination D) equity or fairness
Economics