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May 2021 Economics Higher level Paper 1
definition of inflation, demand-pull inflation. diagram showing rising average price level due to an increase in AD. explanation that AD may increase because of a change in any of the determinants affecting component(s) of AD. examples of economies that have experienced demand-pull inflation.
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definition of inflation, demand-pull inflation. diagram showing rising average price level due to an increase in AD. explanation that AD may increase because of a change in any of the determinants affecting component(s) of AD. examples of economies that have experienced demand-pull inflation.