?
What is responsible for a rise in general price levels of goods and services in a nation’s economy?
Answer & Solution
Correct Answer:
Option
A
Inflation is responsible for a rise in general price levels of goods and services in a nation’s economy. Inflation is a quantitative measure of the rate at which the average price level of a basket of selected goods and services in an economy increases over a period of time. It is the constant rise in the general level of prices where a unit of currency buys less than it did in prior periods.
Join the Discussion
Login to post a comment or share your explanation.
Login