contestada

you go to the gas station and see that the price of gasoline is unchanged. can you use this observation to determine that the economy is not experiencing inflation?

Respuesta :

If you go to a gas station and see that the price of gasoline is unchanged, it does not necessarily mean that the economy is not experiencing inflation. This is because inflation in an economy cannot be determined by looking at the price of only one good. There can be various other reasons because of which the price of gasoline may not have changed.

What do you mean by inflation?

Inflation is an ascent in costs, which can be deciphered as the downfall of buying control over the long haul. The rate at which buying power drops can be reflected in the normal cost increment of a bin of chosen labor and products over some timeframe. The ascent in costs, which is much of the time communicated as a rate, implies that a unit of cash really purchases short of what it did in earlier periods. Expansion can be appeared differently in relation to collapse, which happens when costs decline and buying power increments.

To know more about inflation from the given link:

https://brainly.com/question/777738

#SPJ4