What does this term mean?
Does it basically mean..
The rate at which the general level of prices for goods and services is rising.
Could you sort of simplify it a bit more. What does general level mean?
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An economy with fairly constant output growth and low and stable inflation. Basically, there is not too much money being lost, and the money coming in is at a good level. Good enough that there are not too many problems. Does that make sense?
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