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Question
_______ is a persistent and appreciable rise in general price level.
_______ is a persistent and appreciable rise in general price level.
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Solution
The correct option is D 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 either an increase in the supply of money that
increases purchasing power in the economy or some decrease in production of
real output 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 which is a result of either an increase in the supply of money that
increases purchasing power in the economy or some decrease in production of
real output in the economy.
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