Inflation is an increase in:
A) prices of all products in the economy.
B) homes, autos and basic resources.
C) the general price level of products.
D) none of the above.

Question

Quizplus · Accepted Answer

Inflation refers to an overall increase in the general price level of products in the economy. It is not limited to specific products such as homes, autos, or basic resources, nor is it an increase in prices of all products in the economy. Therefore, the correct answer is C.

Inflation Is an Increase In