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(a) Describe inflation and discuss its origin using Classical and Keynesian theories.
(b) Describe with diagram how can inflation occur in an economy with substantial unemployment of factors of production.
(c) Comment on the effects of inflation in the economy and the measures to control the inflation.
Suppose the consumer can choose either coffee shop 1 or coffee shop 2, but not both. - Assuming that other things (such as location, quality of coffee, and so on) are the same,
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when the data is descrete and incremental changes is measurable, what is it?
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