________ occurs when the price level of goods and services increases over several months.

Question

Quizplus · Accepted Answer

Inflation is the phenomenon where the general price level of goods and services in an economy increases over a period of time, typically measured in months or years. This can lead to a decrease in the purchasing power of a currency, as the same amount of money can buy fewer goods and services. A budget deficit refers to a situation where government spending exceeds government revenue, while an open-market operation refers to a central bank's buying or selling of securities in the open market to influence the money supply. A recession is a decline in economic activity, typically measured by a decrease in gross domestic product (GDP) over two consecutive quarters.

________ Occurs When the Price Level of Goods and Services