Which of the following is the continual increase in the price level of a basket of goods and services?

Question

Quizplus · Accepted Answer

Inflation is the continual increase in the price level of a basket of goods and services. Deflation is the opposite - a continual decrease in the price level. Recession and stagflation are not related to price levels, but rather refer to economic conditions such as a decline in economic activity or a combination of stagnant growth and high inflation.

Which of the Following Is the Continual Increase in the Price