a) Inflation

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Last updated 6:26 PM on 3/11/26
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5 Terms

1
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  • define inflation

  • define deflation

  • define disinflation


  • the sustained rise in the average price level of goods and services

  • the fall in the average price level of goods and services

  • a fall in the rate of inflation


2
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  • state the two types of inflation


  • demand-pull inflation

  • cost-push inflation


3
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  • state the two causes of inflation


  • changes to the money supply

  • changes in real wages


4
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  • describe how changes to the money supply cause inflation


  • increase in the amount of money in circulation

  • increase in AD

  • demand-pull inflation


5
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  • describe how changes in real wages cause inflation


  • increase in real wages

  • increase in the cost of production

  • decrease in SRAS

  • cost-push inflation