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What is a term that means a prolonged rise in the general price level of goods and services?
Inflation
What is diflation?
Deflation is decrease in general price level of services and goods. Deflation occur when inflation rate is 0%
What is the definition of Price Level?
It is the average price level of all the goods and services in the country.
What happens when you have a surplus of goods to price?
What happens is there is too much of a good and not enough demand. This is called over supply and usually occurs when the current price level for the good is too high. To sell off the remaining goods, the solutions is to lower the price level and increase demand.
Why is inflation not considered when the basic concept that money has time value is discussed?
Inflation is not considered when the basic concept of money has time value because it is a sustained increase in the general price level of goods and services in an economy over a period of time. If the general price level rises, each unit of currency buys fewer goods and services.
What is a term that means a prolonged rise in the general price level of goods and services?
Inflation
What is diflation?
Deflation is decrease in general price level of services and goods. Deflation occur when inflation rate is 0%
What is the definition of Price Level?
It is the average price level of all the goods and services in the country.
Costs of goods sold is also called?
price at which goods are sold is called selling price
What happens when you have a surplus of goods to price?
What happens is there is too much of a good and not enough demand. This is called over supply and usually occurs when the current price level for the good is too high. To sell off the remaining goods, the solutions is to lower the price level and increase demand.
Why is inflation not considered when the basic concept that money has time value is discussed?
Inflation is not considered when the basic concept of money has time value because it is a sustained increase in the general price level of goods and services in an economy over a period of time. If the general price level rises, each unit of currency buys fewer goods and services.
A time of decline in general price levels of goods and services and the value of money is stronger?
Deflation is a decline in general price levels of goods and services and a stronger value in money.
Quantity of money according to classical theory will determine the?
general price level of goods and services is directly proportional to the amount of money in circulation, or money supply.
What is the purpose of central bank act?
Inflation is the constant rise in the general price level. Inflation is the constant rise in the general price level.
How do you measure the change in value of money?
Price indices are used to measure the general price level change in an economy. Price levels are calculated periodically using a price index and compared with previous years. The price index usually contains select goods and services that affect consumer spending, these include food and drink, household goods and services, clothing, etc.
What is the best description of deflation?
the general price of goods and services lowers
What is inflation how it will increases?
inflation means the price level is very high in the society. more money chasing few goods that s called inflation .
