A rapid increase in the rate of inflation is sometimes attribute to the “base effect”. What is “base effect”?

If the price index increased from 100 in 2021 to 110 in 2022 to 132 in 2023, then the rate of inflation is:

Which one of the following is likely to be the most inflationary in its effects?

Which one of the following is a measure that can be used by the Government for combating inflation?

Which one of the following situations can lead to inflation?

The situation in an economy which is growing slowly along with rapid inflation (rising price level) is called