A rise in the general level of prices is called:
Understand the Problem
The question is asking about the economic term for a rise in the general level of prices. The options provided suggest alternative terms, and the user is expected to identify the correct one.
Answer
Inflation
The final answer is inflation.
Answer for screen readers
The final answer is inflation.
More Information
Inflation is a term used to describe the general increase in prices and fall in the purchasing value of money.
Tips
A common mistake is confusing inflation with temporary price spikes in individual goods.
Sources
- Inflation: What It Is and How to Control Inflation Rates - Investopedia - investopedia.com
- Inflation - Wikipedia - en.wikipedia.org
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