Week 10: Phillips Curve Flashcards by Joanna Daramola | Brainscape

Q

Three Causes of Inflation

A

I1. nflation expectations: The rate at which prices are anticipated to rise next year.
2. Demand-pull inflation: Inflation created when demand exceeds supply.
3. Cost-push inflation: An unexpected rise in production costs drives up inflation.

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Q

COVID Crisis + Supply Shocks

A

Labour supply disruptions
Labour productivity reductions
Global supply chain disruptions
Commodity price shocks
Price mark-up shocks
Wage mark-up shocks

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