Cost-Push Inflation Occurs When Prices Are Raised to Cover Rising

question 90

True/False

Cost-push inflation occurs when prices are raised to cover rising production costs, such as wages.

---

Definitions:

Boxing Match

A competitive fighting sport between two individuals, typically using gloves and following specific rules to decide a winner through rounds.

Utility Function

An economic model that describes how consumers rank different bundles of goods according to the level of satisfaction they provide.

Wealth

An abundance of valuable resources or material possessions, or the control of such assets.

Flood

A flood is an overflow of water that submerges land that is usually dry, often caused by heavy rain, melting snow, or dam failure, leading to potential damage and loss.