In economics, what does the term "inflation" refer to? a) The rate at which a currency depreciates b) A decrease in the overall price level c) An increase in the overall price level d) A decrease in the supply of money

In economics, what does the term "inflation" refer to? a) The rate at which a currency depreciates b) A decrease in the overall price level c) An increase in the overall price level d) A decrease in the supply of money

Principles of Microeconomics

7th Edition

ISBN:9781305156050

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter1: Ten Principles Of Economics

Section: Chapter Questions

Problem 6CQQ

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Question

3.In economics, what does the term "inflation" refer to?
a) The rate at which a currency depreciates
b) A decrease in the overall price level
c) An increase in the overall price level
d) A decrease in the supply of money

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