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Officially, inflation occurs when there is:

A. a one-time increase in the overall price level.

B. a one-time increase in one price for one good.

C. a sustained increase in the general price level.

D. a sustained increase in wages.

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Related questions

What is the economic term used for sustained increase in the price of goods and services?

A. inflation

B. depression

C. recession

D. deflation

An increase in the overall price level is:
 
A. Deflation.
B. Recession.
C. Inflation. 
D. Stagflation. 
What would each of the following have on aggregate demanoraggergate supply? In each case us a diagram to show theexpectedeffects on the equilibruim price level and the level ofrealoutput. Assume all other things remain constant.
a) A widespread fear of depression on the partofconsumers.
b) A $2 increase in the excise tax on a packofcigerattes.
c) A reduction in interest rates at each price level.
d) A major increase in Federal spending for health care.
e) The expectation of rapid inflation
f) The complete disintegration of OPEC, causing oil pricesfallby one-half.
g) A 10 percent reduction in personal income tax rates.
h) A sizable increase in nominal wages (with no changeinproductivity).
i) A 12 percent increase in nominal wages (with no changeinproductivity).
j) Depreciation in the international value of thedollar.

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