Question

A rise in the general level of prices in an economy is termed as?

A Inflation Correct Answer Incorrect Answer
B Deflation Correct Answer Incorrect Answer
C Stagflation Correct Answer Incorrect Answer
D None of the above Correct Answer Incorrect Answer

Solution

Inflation is the rate of increase in prices over a given period of time. Inflation  is a decrease in the purchasing power of money, reflected in a general increase in the prices of goods and services in an economy.

Practice Next

Relevant for Exams:

×
×