Which of the following is a measure of the decrease in the value of money, expressed as the percentage reduction in value since the previous year?

Question

Quizplus · Accepted Answer

Inflation is a measure of the decrease in the value of money over time, expressed as the percentage reduction in value since the previous year. It reflects the increase in the general price level of goods and services in an economy, resulting in a decrease in the purchasing power of a currency. Recession and depression are economic downturns characterized by a decline in economic activity and output. The consumer break-even point refers to the level of sales needed to cover fixed and variable costs, and does not relate to inflation.

Which of the Following Is a Measure of the Decrease