Demand-Pull Inflation

question 65

Multiple Choice

Demand-pull inflation

• A)occurs when prices of resources rise, pushing up costs and the price level.
• B)occurs when total spending exceeds the economy's ability to provide output at the existing price level.
• C)occurs only when the economy has reached its absolute production capacity.
• D)is also called cost-push inflation.

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Definitions:

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The concept that consumers purchase and use goods not only for their functional value but for their symbolic meaning within society or personal identity.

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