ECONOMICS
INFLATION
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Choose the correct type of inflation for the following:A rapid increase in wages
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Demand-pull inflation
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Cost-push inflation
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Either A or B
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None of the above
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Explanation:
Detailed explanation-1: -Cost-push inflation occurs when overall prices increase (inflation) due to increases in the cost of wages and raw materials.
Detailed explanation-2: -Based on speed, there are 4 different types of inflation – hyperinflation, galloping, walking, and creeping.
Detailed explanation-3: -Cost-push inflation happens when there is a decline in the supply of goods and services and demand remains unchanged or even grows, driving prices and inflation higher.
Detailed explanation-4: -Demand Pull. Cost-Push. Open. Repressed. Hyperinflation. Creeping. Moderate. True. More items
Detailed explanation-5: -Demand-pull inflation. Cost-push inflation. Built-in inflation. 27-Jul-2022
There is 1 question to complete.