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When there is an increase in prices for good and services combined with a reduction in the value of money it is known as inflation.

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Xavier Hills

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3y ago

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What happens when there is an increase in prices for good and service combined with a reduction in the value of money?

When there is an increase in prices for good and services combined with a reduction in the value of money it is known as inflation.


What occurs when there is an increase in prices that decreases the amount of a good or service you can bu?

Inflation is the word used to describe a general increase in prices and reduction in purchasing power of money.


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