Answer to Question #227860 in Economics for mmm

Question #227860

Which one of the following statements best describes inflation?

increase in the prices of goods and services [2] once-off and considerable increase in the general price level [3] a continuous and considerable increase in the price of electricity and petrol [4] a continuous and considerable increase in the general price level of goods and services

Expert's answer

[1] increase in the prices of goods and services

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