Question

When the price level _______ the inflation rate _______. a. rises slowly; falls b. rises rapidly; increases c. falls; is zero

Answer 1

When the price level rises rapidly the inflation rate increases.

The rate at which prices increase over a specific time period is known as inflation. Inflation is often measured in broad terms, such as the general rise in prices or the rise in a nation's cost of living.

However, it can also be computed more precisely—for example, for specific products, like food, or for services, like school tuition.

In any situation, inflation refers to how much more expensive the pertinent collection of goods and/or services has grown over a predetermined time frame, most frequently a year.

Hence, option B is correct.

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