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19 February, 07:59

We say that an economy experience inflation if - prices of all goods have increased. - relative price between capital goods and consumption goods has increased. - GDP deflator this year is smaller than GDP deflator of the previous year. - nominal GDP has increased.

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  1. 19 February, 08:06
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    We say that an economy experience inflation if prices of all goods have increased.

    Explanation:

    Inflation is the sustained increase in the general price level.

    It must be sustained over time and must be of most prices of goods and / or services.
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