Cost-Push Inflation Occurs When Aggregate Supply Shifts to the Right

question 231

True/False

Cost-push inflation occurs when aggregate supply shifts to the right, causing the price level to increase along with rising unemployment.

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Definitions:

Aesthetics

A branch of philosophy dealing with the nature of beauty, art, and taste, and the creation and appreciation of beauty.

Tea Ceremony

Tea Ceremony is a ritualistic practice in Japanese culture, involving the ceremonial preparation and presentation of matcha, a powdered green tea.

Teahouse

A place of relaxation and socialization where tea and sometimes light meals are served, often found in East Asian cultures.

Ise Shrine

A Shinto shrine in Japan dedicated to the goddess Amaterasu-ōmikami, famous for its tradition of rebuilding the shrines every 20 years in a process called Shikinen Sengu.