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Question
When inflation is in the double or triple digits, we call that _____.
When inflation is in the double or triple digits, we call that _____.
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Solution
The correct option is C galloping inflation
When
prices of goods and services rise at a double, triple digit rate per annum that situation is known as 'galloping
inflation'. It is a serious problem for an economy and causes various
economic distortions and disturbances.
When prices of goods and services rise at a double, triple digit rate per annum that situation is known as 'galloping inflation'. It is a serious problem for an economy and causes various economic distortions and disturbances.
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