Question
General Knowledge Question on Economics
A sustained and appreciable increase in the price level over a considerable period of time is known as
A
Devaluation
B
Depreciation
C
Inflation
D
Depression
Answer
Inflation
Explanation
Solution
A sustained and appreciable increase in the price level over a considerable period of time is known as Inflation. Inflation reflects the overall rise in prices of goods and services in an economy, which can erode purchasing power and impact economic stability.
The correct answer is (C) : Inflation