An increase in the nation's overall price level is:
A) long-term economic growth.
B) unemployment.
C) inflation.
D) deflation.

Question

Quizplus · Accepted Answer

An increase in the nation's overall price level is inflation, which means that the general level of prices of goods and services is rising. It is caused by an increase in the supply of money and credit in the economy, leading to an increase in demand for goods and services, which in turn raises their prices.

An Increase in the Nation's Overall Price Level Is