Inflation refers to widespread price increases in an economic system.

Name: Inflation refers to widespread price increases in an economic system.
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Question

Quizplus · Accepted Answer

Inflation refers to a general increase in the prices of goods and services over time, resulting in a decrease in the purchasing power of money. It is a common economic phenomenon that can occur at different levels, from an individual consumer level to a national or international level. Therefore, option A is true, and option B is false.

Inflation Refers to Widespread Price Increases in an Economic System