Types of deflation
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7 Terms
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Benign
Occurs when there’s an outward shift in aggregate supply
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malignant
occurs when there an inward shift in AD
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Causes for INflation
Demand pull inflation-AD shifts right
Cost push inflation-AS shifts left
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Causes for deflation
Decrease in AD
Increase in AS
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Nominal Income
How much you actually earn
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Real income
How much your income is really worth.
-nominal income with effects of inflation removed.
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INF RATE
PERCENTAGE CHANGE IN PL
Note 
Flashcards (28)