If the price level increases by 3%, what is the inflation rate over that period? Options: A . &nbspZero B . &nbsp3% C . &nbsp5% D . &nbspNone of the above

If the price level increases by 3%, what is the inflation rate over that period?

Question

If the price level increases by 3%, what is the inflation rate over that period?

Options:

A . Zero

B . 3%

C . 5%

D . None of the above

Answer: Option B
:
B
Inflation rate refers to the increase in price levels.

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