Inflation is

Question

Inflation is

Quizplus · Accepted Answer

Inflation is typically defined as the sustained increase in the general level of prices in an economy over a period of time. Option B is the only one that accurately reflects this definition. Option A is inaccurate because not all prices in an economy may rise during inflation. Option C is limited in scope to personal consumption of urban consumers and does not reflect inflation in its entirety. Option D is also inaccurate as it refers to the rate of increase in prices rather than the increase in general price levels.

Inflation Is