The percentage change in the overall level of prices in the economy is called:
A) the inflation rate.
B) the growth rate of GDP.
C) GDP.
D) GDP per capita.
E) the interest rate.

Question

Quizplus · Accepted Answer

The percentage change in the overall level of prices in the economy is known as the inflation rate, which measures the rate of change in the average price level of a basket of goods and services in an economy over time.

The Percentage Change in the Overall Level of Prices in the Economy