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प्रश्न
What will happen to the value of money when price level rises? What is this phenomenon known as?
थोडक्यात उत्तर
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उत्तर
Money's value falls when prices rise. This is known as 'inflation'. Inflation is an increase in the price level of goods and services in an economy. The purchasing power of money decreases when each unit of currency purchases fewer products than previously.
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