'Inflation' is an increase in the:
A)overall level of economic activity.
B)rate of growth of GDP.
C)average hourly wage rate.
D)general price level in the economy.

Question

Quizplus · Accepted Answer

Inflation refers to a general increase in the price level of goods and services in an economy over a period of time. Therefore, the best choice among the given options is D which states that inflation is an increase in the general price level in the economy.

'Inflation' Is an Increase in The