Inflation occurs when there is an increase in the general level of prices and a decrease in the purchasing power of money.

Name: Inflation occurs when there is an increase in the general level of prices and a decrease in the purchasing power of money.
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Question

Quizplus · Accepted Answer

Inflation is defined as a sustained increase in the general price level of goods and services in an economy over a period of time, which leads to a decrease in the purchasing power of money.

Inflation Occurs When There Is an Increase in the General