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3 cards from this section. Quick, good the night before a test.
What triggers demand-pull inflation?
Think about what happens when everyone wants something but there's not enough available.
Name one factor that can lead to higher consumer spending.
Consider who usually spends money and what can increase that amount.
What is demand-pull inflation?
Think about what happens in a busy store with limited items.
True or False: Demand-pull inflation is beneficial for consumers.
Consider how your spending changes when prices rise.
Evaluate the potential long-term effects of sustained demand-pull inflation on a small economy.
Consider the cycle of wages and prices and how they interact with demand.
Propose policy measures a government can implement to curtail demand-pull inflation, explaining the rationale behind each.
Think about how governments can use fiscal or monetary policies to influence economic variables downwards.
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