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

UPSC · 2021 · Economy
Question:
Which of the following is likely to be the most inflationary in its effects?

Options

Repayment of public debt
Borrowing from the public to finance a budget deficit
Borrowing from the banks to finance a budget deficit
Creation of new money to finance a budget deficit
Answer: Creation of new money to finance a budget deficit

Explanation:
Printing new money increases the money supply without a corresponding increase in goods and services, leading to demand-pull inflation — the most inflationary option.

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