The persistent increase in the prices of goods and services is called:
A)deflation.
B)predatory prices.
C)inflation.
D)recession.
E)bid rigging.

Question

Quizplus · Accepted Answer

Inflation refers to a sustained increase in the general price level of goods and services in an economy over a period of time, resulting in a decline in the purchasing power of money. Deflation, on the other hand, refers to a sustained decrease in the general price level of goods and services, while recession refers to a significant decline in economic activity for at least two consecutive quarters. Predatory pricing refers to a pricing strategy in which a firm sets its prices very low to drive competitors out of business, while bid rigging refers to a collusive practice in which competitors agree to avoid bidding against each other to maintain high prices.

The Persistent Increase in the Prices of Goods and Services