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Practice mode Basic of Economics

Inflation is:

Correct answer B. an increase in the overall price level

Explanation

Inflation is a sustained rise in the general price level, which reduces the purchasing power of money.

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Question 01 Basic of Economics

An account is a formal banking, brokerage or business relationship set up to provide regular services, dealings and financial transactions. Which of the following does the term account also refer to?

Correct answer D. All of these

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