What is an increase in the economy's average price level called?
A) real GDP
B) interest
C) inflation
D) national product
E) unemployment

Question

Quizplus · Accepted Answer

An increase in the economy's average price level is called inflation. Real GDP measures the economy's production adjusted for inflation, interest refers to the cost of borrowing money, national product is the total output of goods and services produced by a country's residents, and unemployment refers to the number of people who are actively seeking work but unable to find it.

What Is an Increase in the Economy's Average Price Level