Q407
_________ is a rise in the general level of prices of goods and services in an economy over a period of time.
A.
Deflation
B.
Inflation
AnswerC.
Stagflation
D.
Hyperinflation
Answer: Option B
Solution
Answer: Option B
Solution:
Inflation is a rise in the general level of prices of goods and services in an economy over a period of time. Inflation is a quantitative measure of the rate at which the average price level of a basket of selected goods and services in an economy increases over a period of time.