Question

Q.3. Read the definitions given below and name the
terms they stand for :
(i) A situation in which the general price level rises
at a phenomenally high speed.
Ans. ....​

Answer 1

Answer:

Galloping Inflation.

Explanation:

When the price level rises in an economy, the average price of all goods and services sold is increasing. This means that in the period during which the price level increases, inflation is occurring.