What is the definition of inflation?
A) a period of rising productivity in the economy
B) a period of rising income in the economy
C) an increase in the overall level of output in the economy
D) an increase in the overall level of prices in the economy

Question

Quizplus · Accepted Answer

Inflation is defined as a sustained increase in the general prices of goods and services in an economy over a period of time. It leads to a decrease in the purchasing power of a currency, as more money is required to buy the same amount of goods and services. Inflation can be caused by many factors, including an increase in the money supply, decreased production, and increased demand.

What Is the Definition of Inflation