Inflation Flashcards
(5 cards)
1
Q
What is inflation ?
A
Inflation is the sustained increase in the average price level of an economy over a given period of time
2
Q
What is deflation?
A
Deflation is the sustained decrease in the average price level of an economy over a given period of time
3
Q
What is disinflation?
A
Decrease in the rate of inflation
4
Q
What is meant by inflation rate?
A
The inflation rate is the percentage change in the average price level over a given period of time
5
Q
What is hyper inflation?
A
Hyperinflation means a very high rate of inflation; prices are increasing sp fast there is a severe loss of confidence in the value of money
