Which of the following statements about the causes of inflation in the price of goods and services based on the material covered in the lecture are TRUE:

1. A Neo-Keynesian economist would argue that a key cause is that aggregate demand (expenditure) for goods and services is growing at a faster rate than the aggregate supply (production) of those goods and services.
2. A Neo-Classical economist would argue that a key cause is that the growth in the money supply (including credit) is growing at a faster rate than the level of production of goods and services.