9 min read
This study guide covers inflation, monetary theory, and their relationship. Key inflation concepts include demand-pull, cost-push, and the wage-price spiral. The guide also explains the Federal Reserve's influence on inflation and dives into the Theory of Monetary Neutrality and the Quantity Theory of Money. Finally, it provides practice questions and exam tips for the AP Macroeconomics exam.
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Question 1 of 11
Inflation is best described as a sustained increase in what?
The money supply
The general price level
Real GDP
Interest rates