Question 10* Question 10The government is concerned that the high inflation rate is threatening the sustainability of recent economic growth. What is the best way for the government to reduce the inflation rate?by decreasing both government spending and taxesby decreasing government spending and increasing taxesby increasing both government spending and taxesby increasing government spending and decreasing taxes©2021 Illuminate Education TM, InchpO O O

Government can undertake the below fiscal measures to reduce the inflation rate 1. Increase taxes -…

* Question 10 The government is concerned that the high inflation rate is threatening the sustainability of recent economic growth. What is the best way for the government to reduce the inflation rate? A by decreasing both government spending and taxes B by decreasing government spending and increasing taxes by increasing both government spending and taxes by increasing government spending and decreasing taxes ©2021 Illuminate EducationTM, Inc.

* Question 10 The government is concerned that the high inflation rate is threatening the sustainability of recent economic growth. What is the best way for the government to reduce the inflation rate? A by decreasing both government spending and taxes B by decreasing government spending and increasing taxes by increasing both government spending and taxes by increasing government spending and decreasing taxes ©2021 Illuminate EducationTM, Inc.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Rising inflation is a biggest challenge for every economy. A sustainable economic growth need price stability which makes essential approach for consumption demand. Higher fluctuation in inflation rate is causing insufficient productivity in economy and consumption demand. Effective utilization of expansionary and contractionary economic policy make may make balance between economic growth, price stability, aggregate demand & supply and employment level. The main components of the consumer price index in Oman are Food, Beverages, Tobacco Transport, Communication, Rent, Electricity, Water and Fuel. Consumer prices in Oman rose by 1.59 percent year-on-year in April of 2021; it was the first monthly increase in consumer prices since March of 2020. The consumer prices in Oman decreased by 1.57 percent year-on-year in January of 2021, marking the eleventh consecutive month of declining in consumer price index which leads to economic slowdown. Major consumption expenditure in 2017 was…