Question

Which of the following economic terms describes an increase in product price without the increase of money's worth? a) inflation b) fiat currency c) deflation d) gold standard

Answer 1

A) (should be called 'Hyperinflation') because the value of money decreases while expenditures (food, rent, clothes etc) remain the same. A great example of this is what happened in Germany WW2  

Answer 2

A.
inflation because that means that money is starting to loose it's value so you have to give more of it even though it technically cost the same amount.