New Enroll in RBI Grade B New Batch - Starts on May 21

    Question

    What is the definition of "inflation" in economic

    terms?
    A Increase in money value Correct Answer Incorrect Answer
    B Decrease in money value Correct Answer Incorrect Answer
    C General increase in prices of goods and services Correct Answer Incorrect Answer
    D General decrease in prices of goods and services Correct Answer Incorrect Answer

    Solution

    Inflation refers to the rate at which the overall price level of goods and services rises, leading to a purchasing power decline.

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