what is inflation? please answer
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Q .What is inflation?
A.Inflation is a quantitative measure of the rate at which the average price level of a basket of selected goods and services in an economy increases over a period of time. Often expressed as a percentage, inflation indicates a decrease in the purchasing power of a nation's currency.
vinodkumar28:
decrease in purchasing power of nations currency means we have to spend more money to buy a thing ? is it right ? I'm getting confusion there?
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Answer:A.Inflation is a quantitative measure of the rate at which the average price level of a basket of selected goods and services in an economy increases over a period of time. Often expressed as a percentage, inflation indicates a decrease in the purchasing power of a nation's currency.
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