Principles of Economics 2e
Solutions
Principles of Economics 2e
The AD/AS model is static. It shows a snapshot of the economy at a given point in time. Both economic growth and inflation are dynamic phenomena. Suppose economic growth is 
per year and aggregate demand is growing at the same rate. What does the AD/AS model say the inflation rate should be?
Impact on inflation due to economic growth is to be determined.
As economy is growing at 3% per annum, it means demand for goods and services will increase. Economic growth is a positive indicator as economy will move towards potential GDP growth...
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