CLEP Macroeconomics Terms & Definitions Practice Test

Question 1 of 3
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Inflation
Decline in the value of capital over time due to wear and obsolescence. they are re-added to GDP to capture the value of output needed to replace or repair worn out buildings and machinery
Sustained increase in the overall price level
M2 plus large and long-term deposits. discontinued by the US central bank in 2006
Sustained decrease in general price level