
Which of the following is a correct description of 'inflation'?
A) Inflation refers to an increase in relative prices throughout the economy.
B) Inflation is the change in the price level from one year to another.
C) Inflation is a sustained increase in the price level.
D) Inflation is when there is a one-time jump in the price level.
Correct Answer:
Verified
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Q6: From the data in the following table
Q7: Suppose an economy has only three goods,
Q8: The 'inflation rate' is measured as the:
A)percentage
Q9: Suppose that the data in the following
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Q11: The most widely used measure of inflation
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