WESTWARD EXPANSION INDUSTRIALIZATION URBANIZATION 1870 1900
GILDED AGE POLITICS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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deflation.
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inflation.
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Either A or B
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None of the above
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Detailed explanation-1: -Inflation is a sustained increase in the general price level of goods and services in an economy over a period of time.
Detailed explanation-2: -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-3: -The purchasing power of currency is the quantity of goods and services that can be bought with a monetary unit. Because of rising prices, the purchasing power of currency deteriorates over time. Outside of the country, it drops in cases of depreciation and devaluation and increases with the opposite.
Detailed explanation-4: -What Is Inflation? Inflation is a rise in prices, which can be translated as the decline of purchasing power over time. The rate at which purchasing power drops can be reflected in the average price increase of a basket of selected goods and services over some period of time.
Detailed explanation-5: -Inflation is the general rise in the prices of goods and services in an economy, over a period of time. It reduces the purchasing power of consumers, because each unit of currency can purchase fewer products with an increase in the general price levels.