Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

In a country, 10 % of economic growth rate is recorded which has led to an increase in the employment and income of the people.

image text in transcribed
In a country, 10 % of economic growth rate is recorded which has led to an increase in the employment and income of the people. Thus, aggregate demand for goods and services has also risen. Since, the aggregate supply is not enough to meet the fast growing demand for the goods and services that is why the price level has increased in the country. What type of inflation is created in this situation? a. Demand pull inflation b. Pricing power inflation O c. Cost push inflation O d. Sectoral inflation

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

The Four Corners Of Financial Accounting

Authors: Shaho Heidari Gandoman

1st Edition

1952751950, 978-1952751950

More Books

Students also viewed these Accounting questions

Question

Distinguish between formal and informal reports.

Answered: 1 week ago