QUESTION
Macro Econ please help ASAP
Category: Economics
Subject: Macroeconomics
Due Date: 07/30/2014
Question Asked: 2014-07-25 05:48:01
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User: Math21
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Best to Get Used to High Food and Energy Prices— They’re Here to Stay Rising energy and food costs are slowing the economy at a time when it is already facing severe headwinds. Just as Western Europe and North America are showing a bit of sparkle, along comes another oil price shock or food price shock to put out the light. On top of rising energy prices, a severe U. S. drought, a poor monsoon season in Asia, and a bad harvest in Russia and Ukraine have sent grain prices soaring. Globally, this is the third major food price shock in five years. Source: The Telegraph, August 29, 2012 Explain what type of inflation the news clip is describing and provide a graphical analysis of it.
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Answer
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Posted on 2014-09-08 18:05:19
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Preview:
... known around the world that rising energy costs are also affecting other necessary commodities which results in inflation. Rise in oil price known as oil shock affects transportation cost of the material and almost...
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