QuestionJuly 20, 2025

The rate of inflation can be defined as A The change in the general price level. B The percent change in the general price level. C The sustained percent change increase in the general price level. D The percentage increase in the price of corn.

The rate of inflation can be defined as A The change in the general price level. B The percent change in the general price level. C The sustained percent change increase in the general price level. D The percentage increase in the price of corn.
The rate of inflation can be defined as
A The change in the general price level.
B The percent change in the general price level.
C The sustained percent change increase in the general price level.
D The percentage increase in the price of corn.

Solution
4.1(212 votes)

Answer

C The sustained percent change increase in the general price level. Explanation 1. Identify the correct definition Inflation is generally defined as a sustained increase in the general price level of goods and services in an economy over a period of time, expressed as a percentage.

Explanation

1. Identify the correct definition<br /> Inflation is generally defined as a sustained increase in the general price level of goods and services in an economy over a period of time, expressed as a percentage.
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