A rise in the general price level (and decrease in dollar value) owing to an increase in the volume of money and credit in relation to available goods is called

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The description given in the statement points towards inflation, which is a rise in the general price level caused by an increase in the money supply in relation to the available goods. Option A, recession, refers to a decline in economic activity; option B, bankruptcy, refers to a situation where an individual or an organization is unable to pay off their debts; option C, a budget deficit, refers to a situation where government spending exceeds government revenues, leading to an increase in national debt; and option D, unemployment, refers to a situation where individuals who are willing and able to work are unable to find a job.

A Rise in the General Price Level (And Decrease in Dollar