- Created by: Jeon32666
- Created on: 13-02-19 13:29
A sustained increase in the general price level, leading to a fall in the purchasing power of money. Inflation is measured as a rate of increase in the general price level at a given period of time usually over a month or year.
DEGREES OF INFLATION
A low rate of inflation is known as creeping inflation. A low and stable rate of inflation may encourage firms to produce more. In contrast, there is…