Question

Consider the following statements about inflation: 1. Inflation occurs when prices are generally increased across the economy. 2. An increase in aggregate demand causes cost-push inflation. 3. Hyperinflation refers to an extremely rapid increase in prices. Which of the above statements are correct?

A 1 only
B 1 and 2 only
C 1 and 3 only
D 1, 2, and 3
Practice Next

Hey! Ask a query