Oil prices are on track to reach $100 a barrel this month for the first time in 2023 after surging by almost 30% sinceJune, after Russian and Saudi Arabian production cuts and rising demand from China.With many industries being heavily reliant on energy and transportation, what type of inflation would this leadto in South Africa?A. Demand-pull inflationB. Cost-push inflationC. StagflationD. HyperinflationWhat is one of the potential effects of the aforementioned inflation on the South African economy?A. Decreased purchasing power of money.B. Increased consumer savings.C. Reduced interest rates on loans.D. Higher demand for imports.
Oil prices are on track to reach $100 a barrel this month for the first time in 2023 after surging by almost 30% sinceJune, after Russian and Saudi Arabian production cuts and rising demand from China.With many industries being heavily reliant on energy and transportation, what type of inflation would this leadto in South Africa?A. Demand-pull inflationB. Cost-push inflationC. StagflationD. HyperinflationWhat is one of the potential effects of the aforementioned inflation on the South African economy?A. Decreased purchasing power of money.B. Increased consumer savings.C. Reduced interest rates on loans.D. Higher demand for imports.
Chapter18: Introduction To Macroeconomics: Unemployment, Inflation, And Economic Fluctuations
Section: Chapter Questions
Problem 13P
Related questions
Question
Oil prices are on track to reach $100 a barrel this month for the first time in 2023 after surging by almost 30% since
June, after Russian and Saudi Arabian production cuts and rising
With many industries being heavily reliant on energy and transportation, what type of inflation would this lead
to in South Africa?
A. Demand-pull inflation
B. Cost-push inflation
C. Stagflation
D. Hyperinflation
What is one of the potential effects of the aforementioned inflation on the South African economy?
A. Decreased
B. Increased consumer savings.
C. Reduced interest rates on loans.
D. Higher demand for imports.
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