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WAEC Economics 2013 Question 8

Question 8

Money and Inflation

General rise in the price level induced by increased price of inputs is referred to as

  1. A.run-away inflation.
  2. B.cost-push inflation.
  3. C.demand-pull inflation.
  4. D.imported inflation.
Show the answer and explanation

Answer: B (cost-push inflation.)

Explanation

Higher input costs push up prices: cost-push inflation.