In General, Inflation Is Defined as

question 21

Multiple Choice

In general, inflation is defined as

• A)the increase in Gross Domestic Product over time.
• B)a measure of the average person's preference for a present good compared to a future good.
• C)an increase in prices of goods and services that are included in a consumption basket over time.
• D)an increase in the purchasing power of money over time.
• E)the difference between the real and nominal Gross Domestic Product (GDP).

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