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Concept
Wage-Price Spiral
Summary
The
wage-price spiral
is an
economic phenomenon
where
rising wages
lead to
higher production costs
, prompting
businesses to increase prices
, which in turn leads to
further wage demands
. This cycle can contribute to
sustained inflation
if not managed by monetary or
fiscal policy interventions
.
Relevant Degrees
Salaries and Wages 50%
Price Formation and Costs 50%
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