With the help of a diagram, assess the effectiveness of government policies that might be used to reduce demand-pull inflation.

10.3.1.1 fiscal policy including Laffer curve analysis

10.3.1.2 monetary policy

10.3.1.3 supply-side policy including market-based and interventionist policies

10.3.1.4 exchange rate policy

10.3.1.5 international trade policy

4.6.4 causes of inflation: cost-push and demand-pull inflation

5.1.1 use of government policy to achieve macroeconomic objectives: price stability, low unemployment, economic growth (policy conflicts and trade-offs are not required)

5.2.6 distinction between expansionary and contractionary fiscal policy

5.2.7 AD/AS analysis of the impact of expansionary and contractionary fiscal policy on the equilibrium level of national income and the level of real output, the price level and employment

5.3.3 distinction between expansionary and contractionary monetary policy

5.3.4 AD/AS analysis of the impact of expansionary and contractionary monetary policy on the equilibrium national income and the level of real output, the price level and employment

5.4.4 AD/AS analysis of the impact of supply-side policy on the equilibrium national income and the level of real output, the price level and employment