Asked by Hadeel Jaber on May 02, 2024
Verified
Persistent increases in the overall level of prices have been the norm.
Overall Level of Prices
An aggregate measure reflecting the average price of goods and services in an economy, often associated with the inflation rate.
- Acquire knowledge on the historical instances of inflation and deflation in the economy of the United States.
Verified Answer
ZK
Zybrea KnightMay 03, 2024
Final Answer :
True
Explanation :
Historically, economies have experienced persistent increases in the overall level of prices, a phenomenon known as inflation, which reflects a decrease in the purchasing power of money over time.
Learning Objectives
- Acquire knowledge on the historical instances of inflation and deflation in the economy of the United States.
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