Ramesh is a salaried employee living in a city with his family. Over the past six months, he has noticed that the prices of essential goods like vegetables, cooking oil, petrol, and house rent have increased significantly. However, his salary has remained the same. Due to this, he is finding it difficult to manage his household expenses, cut down on savings, and reduce spending on education and leisure activities for his children.
Based on the above situation:
- Identify the macroeconomic problem faced by Ramesh.
- Explain the concept related to this problem.
- Describe how this situation affects the standard of living of middle-class families.
- Suggest any two measures that the government can take to control this problem.
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