Economics · Inflation
If an economy experiences inflation specifically because of a sudden and significant increase in the price of crude oil or raw materials, leading to higher production costs, this is known as:
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Demand-Pull Inflation
- 2Cost-Push Inflation✓
- 3Structural Inflation
- 4Hyperinflation
Correct answer
Cost-Push Inflation
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