Economic Terminology Interest Rates, Exchange Rates and Inflation 0.0 / 5 ? Applied BusinessEconomic Terminology - Unit 10GCSEOCR Created by: bronteapplebyCreated on: 07-03-14 12:59 What is the correct definition of Interest Rates? Price or Cost of borrowing money 1 of 5 What is the correct definition of Exchange Rates? The price at which one currency is bought and sold for another 2 of 5 What is the correct definition of Taxation? The amount of money taken from the general public by the Government to spend on Public Services 3 of 5 What is the correct definition of Inflation? A general increase in the price of good and services measured over a set period of time 4 of 5 QUESTION ANSWER 5 of 5
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