econ inflation graphs + ex

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15 Terms

1
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neoclassical

rule of 10

<p>rule of 10</p>
2
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keynesian

rule of 9

<p>rule of 9</p>
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cost push inflation

SRAS shift left. Ex: US energy and input price surge (2021-22)

<p>SRAS shift left. Ex: US energy and input price surge (2021-22)</p>
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demand pull inflation

AD shift out. Ex: US post-pandemic recovery spending (2021)

<p>AD shift out. Ex: US post-pandemic recovery spending (2021)</p>
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short term economic growth

AD shift out. Ex: US recovery after great recession (2010-11)

<p>AD shift out. Ex: US recovery after great recession (2010-11)</p>
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cyclical/demand-deficient unemployment

AD shift in. Ex: US unemployment during 2008-2009 great recession

<p>AD shift in. Ex: US unemployment during 2008-2009 great recession</p>
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bad deflation

AD shift in. Ex: great depression (1930s)

<p>AD shift in. Ex: great depression (1930s)</p>
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drop in AD (negative growth)

Ex: US COVID-19 lockdowns in 2020

<p>Ex: US COVID-19 lockdowns in 2020</p>
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negative supply shock unemployment

SRAS shift left. Ex: US COVID-19 supply chain disruptions in 2020

<p>SRAS shift left. Ex: US COVID-19 supply chain disruptions in 2020</p>
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long run economic growth

LRAS right, SRAS right w/ LRAS. Ex: US tech innovation and human capital growth (1990s-2000s)

<p>LRAS right, SRAS right w/ LRAS. Ex: US tech innovation and human capital growth (1990s-2000s)</p>
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good deflation

LRAS right, SRAS right w/ LRAS. Ex: US tech sector efficiency and falling prices (2010)

<p>LRAS right, SRAS right w/ LRAS. Ex: US tech sector efficiency and falling prices (2010)</p>
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lorenz curve

Ex: US income inequality (gini ~ 0.41)

<p>Ex: US income inequality (gini ~ 0.41)</p>
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short run phillips curve (HL)

Ex: US low unemployment and rising inflation (2018-2019)

<p>Ex: US low unemployment and rising inflation (2018-2019)</p>
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long run phillips curve (HL)

Ex: US natural rate of unemployment (~4-5%)

<p>Ex: US natural rate of unemployment (~4-5%)</p>
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inflationary spiral

AD1 shift out, SRAS1 shift in, AD2 shift out. Ex: US wage-price spiral in 1970s

<p>AD1 shift out, SRAS1 shift in, AD2 shift out. Ex: US wage-price spiral in 1970s</p>