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2024 macro paper Exam Questions and Answers 100% Pass
- Exam (elaborations) • 5 pages • 2024
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2024 macro paper Exam Questions and
Answers 100% Pass
Define the term 'inflation'. (1) - Correct Answer ️️ -increase in GDP (measured by the
CPI based on an average basket of goods)
Explain one likely cause of inflation. (2) - Correct Answer ️️ -increasing in govt
spending --> AD shifts out --> actual growth --> demand pull inflation OR natural
disaster --> AS shifts inwards --> cost push inflation
Illustrate the shape of the Classical long-run aggregate supply (A...
Exam (elaborations)
2024 macro paper Exam Questions and Answers 100% Pass
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2024 macro paper Exam Questions and Answers 100% Pass Define the term 'inflation'. (1) - Correct Answer ️️ -increase in GDP (measured by the CPI based on an average basket of goods) Explain one likely cause of inflation. (2) - Correct Answer ️️ -increasing in govt spending --> AD shifts out --> actual growth --> demand pull inflation OR natural disaster --> AS shifts inwards --> cost push inflation Illustrate the shape of the Classical long-run aggregate supply (A...
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