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Inflation Cycles (Study Plan 12.2) 2. U.S. Inflation Rises at Faster Pace With the consumer price index rising at a faster pace, President-elect Donald Trump wants to slash taxes and boost infrastructure spending, which could cause inflation to rise further. Source: Washington Post, January 19, 2017 Explain what type of inflation the news clip is describing and provide a graphical analysis of it. Use the following figure to work Problems 3 to 5. The economy starts out on the curves labeled AD and SASo LAS SAS SAS 230 SAS N 190 150 110- AD2 AD1 ADo 9 70 16 18 20 22 Real GDP (trillions of 2009 dollars) 0
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