Inflation (Chapter 13, Section 2)
1. What is creeping inflation?
2. What is chronic inflation?
3. What is Hyperinflation? (From class: Give an example.)
4. What is Demand Pull Inflation? Give an example from class discussions:
5. What is Cost Push inflati
These are the two basic divisions of the
study of economics.
Micro studies the individual parts of the economy one
product, one industry, individual demand, etc.