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Q. |
A rapid increase in the rate of inflation is sometimes attributed to the "base effect" What is "base effect"? [CSAT 2011] |
A. | It is the impact of drastic deficiency in supply due to failure of crops |
B. | It is the impact of the surge in demand due to rapid economic growth |
C. | It is the impact of the price levels of previous year on the calculation of inflation rate |
D. | None of the statements (a), (b) and (c) given above is correct in this context |
Answer» C. It is the impact of the price levels of previous year on the calculation of inflation rate |
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