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Question
Inflation refers to persistent ____________ movement in general price level.
Inflation refers to persistent ____________ movement in general price level.
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Solution
The correct option is B upward
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. in other words, it refers to a persistent upward movement in the general price level of all relevant goods and services in the economy.
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. in other words, it refers to a persistent upward movement in the general price level of all relevant goods and services in the economy.
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