Economics · Macroeconomics
Which of the following core features defines the phenomenon of 'inflation'?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1A complete cessation of international trade operations
- 2An immediate drop in interest rates set by the central bank
- 3A persistent rise in the general price level accompanied by a fall in the purchasing power of money✓
- 4A continuous decrease in the general price level of goods and services
Correct answer
A persistent rise in the general price level accompanied by a fall in the purchasing power of money
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