Inflation is defined as:

Name: Inflation is defined as:
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Inflation is characterized by an increase in the overall level of prices in the economy. It represents a decrease in the purchasing power of money and can be caused by various factors such as an increase in demand, a decrease in supply, or an increase in production costs. A period of rising productivity, output, or income may lead to higher economic growth, but it does not necessarily result in inflation.

Inflation Is Defined As