If the price level rises with a market change in real output, we describe this as ________.

inflation

Right on! Give the BNAT exam to get a 100% scholarship for BYJUS courses

disinflation

No worries! We‘ve got your back. Try BYJU‘S free classes today!

deflation

No worries! We‘ve got your back. Try BYJU‘S free classes today!

devaluation

No worries! We‘ve got your back. Try BYJU‘S free classes today!

Open in App

Solution

The correct option is B inflation
Inflation is an economic situation where the general price level in the economy for all the relevant goods rises that is reflected as a change in production of real output in the economy that results in some market change for those goods.

Suggest Corrections

Similar questions

Will a profit-maximising firm in a competitive market produce a positive level of output in the short run if the market price is less than the minimum of AVC?

Will a profit-maximising firm in a competitive market produce a positive level of output in the short run if the market price is less than the minimum of AVC? Give an explanation.

Will a profit-maximising firm in a competitive market produce a positive level of output in the long run if the market price is less than the minimum of AC? Give an explanation.

The market price of a pizza is Rs 300. Corresponding to an output of 120 units, the average total cost of producing a pizza is Rs 250. Calculate his total profit at this output level.

The market price of a good changes from Rs 5 to Rs 20. As a result, the quantity supplied by a firm increases by 15 units. The price elasticity of the firm’s supply curve is 0.5. Find the final output levels of the firm.

Join BYJU'S Learning Program

If the price level rises with a market change in real output, we describe this as ________.

The correct option is B inflationInflation is an economic situation where the general price level in the economy for all the relevant goods rises that is reflected as a change in production of real output in the economy that results in some market change for those goods.

The correct option is B inflation
Inflation is an economic situation where the general price level in the economy for all the relevant goods rises that is reflected as a change in production of real output in the economy that results in some market change for those goods.