"Supply inflation" refers to
A) inflation arising from a leftward shift of the AS curve that is not the result of excess demand for factors of production.
B) inflation arising from a shortage of labour.
C) the increase in the price level that occurs when the excess demand for inputs pushes up input costs.
D) the increase in the price level that occurs when there is excess supply of factors of production.
E) any increase in the price level that results from an upward shift of the AD curve and a validating shift of the AS curve.
Correct Answer:
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