Plotted in the Philips curve against unemployment and often considered in cost-push and demand-pull varieties, for 10 points, name this rise in price level over time.
The economic damage inflicted by responses to this phenomenon are reflected by the sacrifice ratio. The opportunity costs of this are often referred to as "shoe leather costs. Academic predictions that it would be triggered by monetary overhang in 1990s Europe proved right everywhere except Hungary, which was then judged to have already begun liberalization. It is represented by pi in the Fisher Equation, which uses it to compare real and nominal interest rates. The Mundell-Tobin effect posits that there is not a direct relationship between nominal interest rates and this. Robert Gordon developed the "Triangle Model" of this phenomenon, which assumes adaptive expectations, supply shocks, and increases in aggregate demand causes its three main types. Plotted in the Philips curve against unemployment and often considered in cost-push and demand-pull varieties, for 10 points, name this rise in price level over time.
The economic damage inflicted by responses to this phenomenon are reflected by the sacrifice ratio.
Inflation