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Questions and Answers
What is the definition of inflation?
What is the definition of inflation?
- A situation of rising prices in the economy (correct)
- A sustained decrease in the general price level in an economy
- An increase in the cost of living
- A decrease in the value of money
How does inflation affect the value of money?
How does inflation affect the value of money?
- It increases the value of money
- It has no effect on the value of money
- It decreases the value of money (correct)
- It leads to a rise in the cost of living
When did the biggest decline in the purchasing power of the dollar occur?
When did the biggest decline in the purchasing power of the dollar occur?
- The 1950s
- The 1960s
- The 1970s (correct)
- The 1980s
