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JAMB Economics 2017 Paper
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Question : 36
Total: 50
Cost - push inflation occurs when_______
production cost is high
government embarks on deficits financing
factors decrease
there is too much in circulation
Validate
Solution:
Cost push inflation occurs when increase in cost of production are passed on to consumers in the form of high price for the goods and services on sale. The price of goods are pushed up by rising costs.
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