ECONOMICS
GDP
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Wages go down.
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Producers raise prices to meet higher costs.
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There is not enough money in the economy.
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Demand is less than supply.
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Detailed explanation-1: -Inflation can occur when prices rise due to increases in production costs, such as raw materials and wages. A surge in demand for products and services can cause inflation as consumers are willing to pay more for the product.
Detailed explanation-2: -The main causes of inflation can be grouped into three broad categories: demand-pull, cost-push, and. inflation expectations.
Detailed explanation-3: -Inflation is the rate of increase in prices over a given period of time. Inflation is typically a broad measure, such as the overall increase in prices or the increase in the cost of living in a country.
Detailed explanation-4: -Demand-Pull and Cost-Push Cost-push inflation occurs when it becomes more expensive to produce goods or provide services. This can be caused by rapidly increasing wages or material costs.
Detailed explanation-5: -Demand-pull. Cost-push. Increased money supply. Devaluation. Rising wages. Monetary and fiscal policies. 4 days ago