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Saint Paul School of Business and Law - ZDSFFSDF 21212 Economic Concepts Quiz 2.
- Exam (elaborations) • 14 pages • 2021
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Economic Concepts 
1.) It is generally used to mean any sustained or continuing increase in prices. 
a. inflation rate c. inflation 
b. hyper-inflation d. deflation 
Answer: c 
Source: (Cristobal M, Pagoso, et al, Philippine Economics (Macro Approach), 2003 Edition) 
2.) A reduction of the amount of available money in circulation so that the value of money increases and prices 
go down. 
a. inflation rate c. inflation 
b. hyper-inflation d. deflation 
Answer: d 
Source: (Edited by: Clarence L. B...
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