An inflationary situation in an economy which results out of a process of wage and price interaction...........

Economic and Social Issues Inflation Trends

An inflationary situation in an economy which results out of a process of wage and price interaction ‘when wages press prices up and prices pull wages up’ called:

Inflationary gap

Deflationary gap

Inflation spiral

Seignorage

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Explanation:

An inflationary situation in an economy that results out of a process of wage and price interaction ‘when wages press prices up and prices pull wages up’ is known as the inflationary spiral. It is also known as the wage-price spiral.