Multiple Choice
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
Correct Answer:
Verified
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