Inflation refers to an increase in the
A)price level.
B)rate of inflation.
C)total income.
D)real GDP.

Name: Inflation refers to an increase in the A)price level. B)rate of inflation. C)total income. D)real GDP.
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Question

Quizplus · Accepted Answer

Inflation refers to an increase in the price level of goods and services in an economy over time. This means that the same amount of money can buy fewer goods and services than before, leading to a decrease in purchasing power.

Inflation Refers to an Increase in the