From the list below, select the correct definition of inflation. O A general and ongoing decline...

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From the list below, select the correct definition of inflation. O A general and ongoing decline in the level of prices in an economy. A specific increase in the price of a good or service attributable to changes in supply or demand. A general and ongoing rise in the average level of prices in an economy. A set of sustained increases in the price of a firm's stock. An increase in the level of output in an economy evidenced by a rising GDP. A general and ongoing rise in unemployment. From the list below, select the correct definition of inflation. O A general and ongoing decline in the level of prices in an economy. A specific increase in the price of a good or service attributable to changes in supply or demand. A general and ongoing rise in the average level of prices in an economy. A set of sustained increases in the price of a firm's stock. An increase in the level of output in an economy evidenced by a rising GDP. A general and ongoing rise in unemployment.

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ANSWER A A general and ongoing decline in the level of prices in the economy Deflation is the genera... View the full answer