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What is inflation? (2023)
Practice Questions
Q1
What is inflation? (2023)
A decrease in prices
An increase in the value of money
A sustained increase in the general price level
A measure of economic growth
Questions & Step-by-Step Solutions
What is inflation? (2023)
Steps
Concepts
Step 1: Understand that inflation means prices are going up.
Step 2: Realize that this increase happens over time, not just once.
Step 3: Know that inflation affects many things we buy, like food, clothes, and services.
Step 4: Remember that when inflation happens, the money you have buys less than before.
No concepts available.
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