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Demand-pull inflation is likely to be caused by

Economics
JAMB 2022

Demand-pull inflation is likely to be caused by

  • A. an increase in the cost of factor inputs
  • B. increase in the income tax rate
  • C. increase in bank lending rate
  • D. increasingly large budget deficit
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Correct Answer: Option D
Explanation

Demand-pull inflation occurs when there is excess demand of goods over supply. Excessive demand is a consequence whereby consumers have money purchasing power to buy goods and services.

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