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What is Cost Push Inflation
Cost Push Inflation : When a cost of production (e.g. wages) enhances and firms put up prices to maintain profits. Cost increases may occur because wages have gone up or because raw material prices have enhanced. It is important not to muddle cost-push with demand-pull inflation. Cost-push inflation occurs when costs have risen independently of demand.
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Aggregate Supply When referred to in the circumstance of GNP or GDP, aggregate supply refers to the labor and capital needs to proceeds the level of products and services need
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