Notes for my students:
of GDP, along with current Gross Domestic Output (average of GDP and GDI):
Year-on-year CPI headline inflation is expected to be lower as of a year from now, ranging from 4.2% to 6.8%.
MV ≡ PQ
High inflation not just in the US:
Key phrase buried in the Appendix to the Badger Institute‘s study entitled: “Unemployment (Over)compensation: How the federal supplemental unemployment benefits impacted unemployment during the pandemic” (April 2022).