The inflation rate is a:
A)change in price level.
B)percentage increase in price level.
C)sustained increase in relative prices.
D)sustained increase in price level.
E)sudden increase in the weighted average of all prices.

Question

Quizplus · Accepted Answer

The inflation rate is defined as the percentage increase in the price level, which measures the average prices of goods and services in an economy over a period of time. It is not necessarily a sustained increase, as there can be temporary spikes or fluctuations in prices.

The Inflation Rate Is A