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- Suppose both nominal GDP rises by 10 percent and real GDP rise by 2percent. What has happened to the general price level? What is the inflationrate? Show your calculation.please draw a graph showing the Aggregate Demand curve and Aggregate Supply curve and then show howdemand-pull and cost-push inflation can happen.Consider an economy that starts out in steady state when the central bank decides to make the inflation target more ambitious. Analyse the effects of a decrease in the inflation target from ? to . Explain the mechanisms behind the adjustment to the new steady state.
- Which is the correct order once the AD or SRAS has shifted to start the inflation process? a. Prices increase in the shortage markets. b. Shortages develop in some markets. c. Prices throughout the economy rise. illustrate cost push and demand pull inflation using diagrams?Explain walking inflation ?