ECONOMICS
BUSINESS CYCLES
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
the value of all final goods and services produced
|
|
|
an increase in the general price level
|
|
|
the percentage of people looking for work that can’t find it
|
|
|
the economic freedom an economy offers
|
Detailed explanation-1: -Inflation refers to the rise in the average price level of goods and services leading to a decline in the value of money within a particular economy. The wholesale price index and the consumer price index are the two main indicators of inflation in India.
Detailed explanation-2: -Inflation is an increase in the level of prices of the goods and services that households buy. It is measured as the rate of change of those prices. Typically, prices rise over time, but prices can also fall (a situation called deflation).
Detailed explanation-3: -Inflation is the rate of increase in prices over a given period of time. Inflation is typically a broad measure, such as the overall increase in prices or the increase in the cost of living in a country.
Detailed explanation-4: -Inflation is an increase in the overall price level. The official inflation rate is tracked by calculating changes in a measure called the consumer price index (CPI). The CPI tracks changes in the cost of living over time. Like other economic measures it does a pretty good job of this.
Detailed explanation-5: -Inflation is sometimes classified into three types: demand-pull inflation, cost-push inflation, and built-in inflation. The most commonly used inflation indexes are the Consumer Price Index and the Wholesale Price Index.