As a business economist, the country's business regulatory commission responsible for overseeing industry practices in the economy requested you to give a presentation on how inflation can be driven by economic activities as well as government policies. In your presentation, use the aggregate demand and aggregate supply model to broadly explain to the commission how a series of economic activities and policies can lead to demand pull and supply push inflation.

In the discussion, pay particular attention to the drivers of each type of inflation and the impact on National Output and Unemployment. Your discussion must be illustrated by the AD/AS model.

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Title Understanding Inflation Dynamics A Presentation for the Business Regulatory Commission Introduction Good morning esteemed members of the Business Regulatory Commission Today I am here to shed li... View the full answer