Economics · Macroeconomics
What is meant by the term "Income Inflation"?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1A situation where aggregate demand is strictly lower than aggregate supply
- 2A selective rise in prices occurring only in specific unorganized sectors
- 3A purely nominal increase in monetary income without any change in real terms
- 4A persistent rise in prices driven by increases in the cost of factors of production beyond full employment✓
Correct answer
A persistent rise in prices driven by increases in the cost of factors of production beyond full employment
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