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- Do neoclassical economists see a value in tolerating a little more inflation if it brings additional economic output? Explain your answer.If, over time, wages and salaries on average rise at least as fast as inflation, why do people worry about how inflation affects incomes?Oil prices are on track to reach $100 a barrel this month for the first time in 2023 after surging by almost 30% sinceJune, after Russian and Saudi Arabian production cuts and rising demand from China. With many industries being heavily reliant on energy and transportation, what type of inflation would this leadto in South Africa?A. Demand-pull inflationB. Cost-push inflationC. StagflationD. Hyperinflation
- When prices are falling, economists say that there is v a contraction. v disinflation. A. deflation. B. an inverted inflation.Oil prices are on track to reach $100 a barrel this month for the first time in 2023 after surging by almost 30% sinceJune, after Russian and Saudi Arabian production cuts and rising demand from China.With many industries being heavily reliant on energy and transportation, what type of inflation would this leadto in South Africa?A. Demand-pull inflationB. Cost-push inflationC. StagflationD. HyperinflationWhat is one of the potential effects of the aforementioned inflation on the South African economy?A. Decreased purchasing power of money.B. Increased consumer savings.C. Reduced interest rates on loans.D. Higher demand for imports.The menu costs of inflation A. occur because businesses need to change prices frequently. B. occur because inflation uses up shoe leather. C. occur because real interst rates rise. OD. are not a problem with anticipated inflation.
- In which of the following conditions is the inflation rate likely to rise and the unemployment rate likely to fall? Select one: a. stagflation b. hyperinflation C. recession O d. boomPurchases made now to avoid higher future prices can lead to:a. expectations inflation. b. demand-pull inflation.c. cost push inflation. d. supply-shock inflation.The economy starts out on the curves AD, and SAS. Some events then occur that generate a cost-push inflation. What might those events have been? Describe their initial effects and explain how a cost-push inflation spiral develops. ~.. Which of the following events might cause a cost-push inflation? OA. a decrease in exports OB. an increase in the money wage rate or an increase in the money prices of raw materials C. an increase in the quantity of money OD. a decrease in government expenditure Starting at point A, the initial effect of a cost-push inflation is a move to point inflation spiral proceeds, it follows the path O A. C; B, H, G, I O B. B; E, G, I O C. C; E, H, I O D. E; I As a cost-push 230 190- 150- 1104 70- Price level (GDP deflator, 2007 = 100) LAS 30+ 13 D G B + E A H C SAS2 SAS₁ F ADO 15 17 19 Real GDP (billions of 2007 dollars) SASO AD₂ AD₁ 21 Q Q
- The price-wage spiral is associated with which type of inflation? a. Cost push b. Demand pull c. Built in d. ChronicAn added benefit of inflation is that it allows for the possibility of a. menu costs. b. aggregate supply shocks. c. negative real interest rates. d.recessions.Everything else held constant a change in workers' expectations about inflation will cause to change. Select one: O a the production function b. aggregate demand Oc short-run aggregate supply O d.long-run aggregate supply