Introduction to principles of macroeconomics/Inflation trends

Kahn Academy Video's about unemployment.

Watch these Kahn Academy video's on Youtube. The first discusses different demand-pull inflation in 1960s USA; the second looks cost-push inflation, especially in the context of an oil shock.

Demand-pull inflation under Johnson

Cost-push inflation

Consider the following questions:

• What are the key differences between these two kinds of inflation?
• Do either of these models fully explain inflation?
• Which do you think is most appropriate for use in today's economy?

Having viewed this short video signpost, please address at least one of these questions on WENotes below.