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What are the two major economic problems and how they affect economy? Distinguish between demand-pull inflation and cost-push inflation. Which of the two types is
What are the two major economic problems and how they affect economy? Distinguish
between demand-pull inflation and cost-push inflation. Which of the two types is most
likely to be associated with a negative GDP gap? Which with a positive GDP gap, in
which actual GDP exceeds potential GDP? What is core inflation? Why is it
calculated?
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