Question: 1) What is inflation and how is it calculated? 2) What are the consequences of inflation? Explain with real-life examples. 3)Distinguish between demand-pull inflation and

1) What is inflation and how is it calculated?

2) What are the consequences of inflation? Explain with real-life examples.

3)Distinguish between demand-pull inflation and cost-push inflation.

4) What is called "unemployment" and how is the unemployment rate calculated?

5) Discuss the four conceptual categories of unemployment with a real-life example for each.

6) What does it mean by zero per cent unemployment?

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