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Which of the following is/are impact of inflation?
1. Decline in Purchasing power
2. It erodes the external competitiveness of domestic products
3. High inflation countries tend to have high interest rates
Codes:-
1 and 2
2 and 3
None of the above
All of the above
All of the statements are correct.
By: Abhipedia ProfileResourcesReport error
Diksha garg
high inflation leads to low interest rate so answer should be only 1 and 2. please correct me if I am wrong.
Higher rates may be needed to bring rising inflation under control, because it will limit the money supply in the economy & people will have less money to spend thereby reducing inflation. While slowing economic growth often lowers the inflation rate and may prompt rate cuts.
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