खालीलपैकी कोणते मागणीजन्य चलन फुगवट्याचे कारण नाही ?

The correct answer is Option D (Increase in wage rate).

Key Points:
• Correct Option Evaluation: The correct answer is option (4) Increase in wage rate.
• Demand-Pull vs. Cost-Push Inflation:
• Demand-Pull Inflation: Caused by aggregate demand exceeding aggregate supply ('too much money chasing too few goods').
• Causes of Demand-Pull:
• (1) Increase in money supply (Option 1) puts more purchasing power in public hands, driving up demand.
• (2) Reduction in savings (Option 2) increases current consumption expenditure, fueling demand.
• (3) Rise in exports (Option 3) increases foreign demand for domestic goods, reducing domestic supply and raising demand pressures.
• Cost-Push Inflation:
• (4) Increase in wage rate (Option 4) increases production costs for firms, forcing them to raise prices. This is a classic textbook cause of cost-push inflation, not demand-pull inflation.
• Exam Insight: Differentiating between cost-push and demand-pull inflationary pressures is a fundamental macroeconomic concept.
• Key Takeaway: Increase in wage rate is a cause of cost-push inflation, not demand-pull inflation.