English, asked by janta8508, 1 year ago

write an essay on inflation

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Answered by Deepak0211

5

Ackley defined inflation as 'a persistent and appreciable rise in the general level or average of prices'. In other words,inflation is a state of rising price level, but not rise in the price level. It is not high prices but rising prices that constituteinflation. It is an increase in the overall price level.

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