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2 December, 20:15

Which of the following terms best describes what an economy experiences when the prices of goods and services increase and the value of currency decreases?

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  1. 2 December, 22:43
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    Inflation is when an economy experiences an increase in the prices of goods and services and a decrease in the value of currency. This generally happens over a period of time, however this does not mean that inflation is all negative, as it has some positive effects. The best rate for inflation is low and steady.
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