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Exemplar Theory Assumes That Subjects Learn a Concept by

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Exemplar theory assumes that subjects learn a concept by


Definitions:

Cost-push Inflation

Inflation caused by an increase in prices of inputs like labour, raw material, etc. It’s when the supply side of the economy’s production function becomes more expensive.

Demand-pull Inflation

Inflation that occurs when the demand for goods and services exceeds their supply, leading to an increase in prices.

Demand-pull Inflation

A situation where inflation is caused by an increase in demand for goods and services, exceeding the available supply.

Cost-push Inflation

Inflation caused by an increase in production costs, such as raw materials and wages, which leads to a decrease in the supply of goods and services at the same price levels.

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