The best definition of inflation is a(n): a. temporary increase ...

[imanialler]

The best definition of inflation is a(n):
 a. temporary increase in prices.
  b. increase in the price of one important commodity such as food.
  c. persistent increase in the general level of prices as measured by a price index.
  d. increase in the purchasing power of the dollar.

Question 2

Personal income taxes:
 a. make recessions and inflationary episodes more severe.
  b. make recessions and inflationary episodes less severe.
  c. make recessions more severe and inflationary episodes less severe.
  d. make recessions less severe and inflationary episodes more severe.
  e. have no effect on the severity of recessions and inflationary episodes.

[SVictor]

Answer to Question 1

c

Answer to Question 2

b

[imanialler]

Correct answers!

[SVictor]

Great! Please up vote