A one-time increase in the price level is

• 1. rarely reported by the news media as inflation, but is nevertheless considered to be inflation by economists
  2. regularly reported by the news media as inflation, but is not considered to be inflation by economist.
  3. regularly reported by the news media as inflation because it is considered to be inflation by economists
  4. None of the above

Correct Answer: regularly reported by the news media as inflation, but is not considered to be inflation by economist.

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