Question

Inflation is a sustained rise in the general level of prices of goods and services.

Question 19 options:
True
False

Answer 1

Answer:

The answer is True

Explanation:

Inflation refers to the sustained or considerable rise in the general price level of goods and services over a period of time

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Answer 2

Answer:

True

Explanation:

Inflation is economic term defines as rise in price level and consequent decrease in purchasing power of currency. By purchasing power it means the amount of goods which can be bought with the given amount of money. Hence after inflation amount of goods which can be bought is lesser than which one can but before inflation. To quantify Inflation or measure inflation, Inflation rate is used. Inflation rate is defined as percentage change in price index over a specific period of time.