When Does 'Inflation' Occur

question 93

Multiple Choice

When does 'inflation' occur?

• A)when the value of money is rising
• B)when the value of real GDP decreases
• C)when the value of real GDP increases
• D)when the general price level is rising

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Definitions:

Substantially Perform

Fulfilling enough of a contractual obligation or duty that any remaining uncompleted parts are considered minor or insignificant.

Accord and Satisfaction

A legal settlement where two parties agree to resolve a dispute by the debtor providing payment or performance that is different from what was originally owed.

Operation of Law

Changes in legal rights or obligations that occur automatically due to legal rules, rather than the action of any party.

Contract

An agreement recognized by law, involving multiple parties, that details their responsibilities and privileges.