Problem
Relationship between unemployment and inflation in the Context of economic growth and Development
• Explain the relationship between the consumer price index and the inflation rate.
• Explain what we can understand by expected inflation, inflation due to an increase in aggregate demand or inflation due to a decrease in aggregate supply.
• What is the typical relationship between the behavior of inflation and unemployment? In your explanation, integrate what stagflation is.
• As a final point of the task, present examples of how both topics would behave in a country with a pandemic situation and an atmospheric phenomenon.