A sustained rise in the general price level of goods and services is called

Question

Quizplus · Accepted Answer

Inflation is defined as a sustained rise in the general price level of goods and services. A Keynesian economy refers to an economic theory developed by John Maynard Keynes. "Hidden unemployment" is a term used to describe unemployed individuals who are not being counted in official unemployment statistics. A depression is a severe and prolonged recession, while a recession is a period of economic decline characterized by a contraction in economic activity.

A Sustained Rise in the General Price Level of Goods