Which of the Following Statements About Inflation Is Correct

Short Answer

Which of the following statements about inflation is correct?
Inflation increases the purchasing power of consumer dollars.
The consumer price index is one way to measure inflation.
Inflation occurs when people have more money to spend as the quantity of goods available increases.
Inflation occurs when the amount of money taken out of the economy exceeds the amount of money put into the economy.
Inflation and deflation are really almost synonymous in practice.