Which of the following statement correct

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Target Exam

CUET

Subject

Economics

Chapter

Indian Economic Development: Liberalisation, Privatisation and Globalisation - An Appraisal

Question:

Which of the following statement correctly explains the term inflation?

Options:

A rise in the price level.

A long-term rise in the price level.

A sustained rise in the general price level.

Any of the above

Correct Answer:

A sustained rise in the general price level.

Explanation:

The correct answer is option 3: A sustained rise in the general price level.

Inflation : A sustained rise in the general price level.