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10 cards from this deck
Persistent rise in general price level over time
Sustained decrease in overall price level
When inflation rate falls but remains positive
Excessive aggregate demand beyond supply capacity
Rising production costs from wages, energy, raw materials
High inflation with stagnant/falling economic growth
1997
1993-2007, stable UK inflation near 2% target
MV=PQMV = PQMV=PQ (Money × Velocity = Price × Quantity)
Always and everywhere a monetary phenomenon (Friedman)
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