Recently, inflation has soared to multi-decade highs in many countries including the US, as the global economy has emerged from the pandemic-induced recession. Which of the following statements is false? a. By 2021, as lockdowns ended in many economies, the global economic growth at its fastest post- recession pace in 80 years overwhelmed the world's trade system. b. Factories that had been idle were unable to ramp up production quickly enough to meet strong demand due to disruptions in supply chains and shortages of labor and raw materials in many parts of the world which experienced uneven progress in controlling virus and vaccination. c. During 2022, the war in Ukraine and the sanctions imposed on Russia led to a rise in commodity prices, aggravating the already rising inflation. d. The shift of consumer spending from services to goods during the pandemic, which was supported by excessive savings and unprecedented policy stimulus, contributed to goods-led inflation surge in 2021-2022. e. None of the above are inconsistent with the observations/experiences so far.