Q. Wage Spiral is a concept related to which of the following?
Answer: Cost Push Inflation
Notes: A wage spiral occurs when workers demand higher wages in response to rising prices, and employers raise prices in response to higher wage costs. This can create a cycle of wage increases and price increases, leading to overall inflation in the economy. Inflation can be caused by a variety of factors, such as an increase in the money supply, high levels of government spending, or a decrease in the availability of goods and services. Inflation can also be influenced by factors such as the state of the economy, the level of competition in the market, and the level of workers' productivity.
The above question is part of 35000+ General Studies MCQ Series Course on GKToday Android app.
