Question

A sustained and appreciable increase in the price level over a considerable period of time is known as ___________.

• A. devaluation
• B. depreciation
• C. inflation
• D. depression

Answer 1

The correct option is C inflation

Inflation is an economic situation where the general price level in the economy for all the relevant goods has a constant appreciable rise over a considerable period of time which is a result of some change in production of real output in the economy that leads in some market change for those goods.