Economists Use the Term Inflation to Describe a Situation in Which

question 11

Multiple Choice

Economists use the term inflation to describe a situation in which

• A)some prices are rising faster than others.
• B)the economy's overall price level is rising.
• C)the economy's overall price level is high,but not necessarily rising.
• D)the economy's overall output of goods and services is rising faster than the economy's overall price level.

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Definitions:

Use

The act of employing something for a particular purpose or in a specific manner.

Chattel Mortgage

A loan arrangement where personal movable property is used as security for a debt, but the borrower retains possession of the property.

Debtor

An individual, company, or other entity that owes money or other forms of financial obligation to a creditor.

Creditor

A person or organization that is due payment from a borrower.