Question

What is inflation?
a.
unemployment and the subsequent loss of production
b.
a slow, steady raise in average wages
c.
an increase in taxes
d.
a devaluing of money, resulting in a loss of purchasing power

Answer 1

d. a devaluing of money, resulting in a loss of purchasing power

Explanation: inflation is a sustained rise in the general price level, which means each unit of currency buys fewer goods and services.