Inflation is a situation when:
A)Prices of some goods rise
B)General price level rises continuously
C)Prices double every year
D)Prices rise and fall

Question

Quizplus · Accepted Answer

Inflation is defined as a situation where the general price level in an economy rises continuously over a period of time. It is not about the prices of some goods rising or prices doubling every year, nor is it about prices rising and falling, which can be part of normal market fluctuations.

Inflation Is a Situation When