Demand- Pull Inflation Is Caused by Increases in Prices of Production

question 62

True/False

Demand- pull inflation is caused by increases in prices of production inputs, which pull price levels up higher.

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Definitions:

AGI

This represents the total income a person has, including wages, salaries, and other sources, minus adjustments, used as a basis for calculating tax owed.

Qualifying Children

Qualifying Children are the dependents of a taxpayer who meet specific IRS criteria for the taxpayer to be eligible for certain tax credits and deductions.

EIC

Earned Income Credit, a refundable tax credit for low- to moderate-income workers, especially those with children.

EIC

Earned Income Credit, a refundable tax credit for low- to moderate-income working individuals and families.