ECON: MACRO4
4th Edition
ISBN: 9781305436862
Author: William A. McEachern
Publisher: Cengage Learning
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Chapter 7, Problem 3.8PA
To determine
Wartime inflation using aggregate
Introduction:
Aggregate demand is the total consumption (spending) of (on) the goods and services in the economy.
Aggregate supply is the total quantity of the goods and services produced in the economy.
Inflation refers to the percentage increase in the prices of the goods and services in the economy over the period of time.
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