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Which is the best definition of inflation? a gradual decrease in the price of goods and services a gradual increase in the price of goods and services an exponential decrease in the price of goods and services an exponential increase in the price of goods and services

Respuesta :

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Answer:

Inflation is the decline of purchasing power of a given currency over time.

Explanation:

ajinems

The best definition of inflation means a gradual increase in the price of goods and services.

What is inflation of goods and services?

Inflation of goods and services is an economic condition whereby there is decrease in the purchasing power of money which eventually leads to a gradual increase in the price of goods and services.

The causes of inflation of goods and services include the following:

  • demand-pull inflation,

  • cost-push inflation, and

  • built-in inflation

Therefore, the best definition of inflation means a gradual increase in the price of goods and services.

Learn more about inflation here:

https://brainly.com/question/26113005

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