Economics · Macroeconomics - Inflation Concept
What is meant by inflation in an economy?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1General decrease in nominal income
- 2Rapid increase in aggregate industrial production
- 3Persistent increase in the general price level of goods and services✓
- 4Continuous decrease in overall price level
Correct answer
Persistent increase in the general price level of goods and services
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