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Question
What do you mean by inflation?
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Solution
Inflation is basically a
rise in prices. It is a situation of a sustained increase in the general price
level in an economy. Thus, it means an increase in the cost of living as the
price of goods and services rise.
Inflation is basically a rise in prices. It is a situation of a sustained increase in the general price level in an economy. Thus, it means an increase in the cost of living as the price of goods and services rise.
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