Task: Class Definition Understanding (ontology: Business_Finance/Financial_Industry_Business_Ontology)

Which of the following definitions best describes 'inflation rate'?

A. measure of the average wage an hourly or salaried worker makes in a given period of time
B. economic indicator representing a change in prices of goods and services for a specified period, for a given statistical area
C. economic indicator representing ratio of a volume measure of output to a volume measure of input use
D. economic indicator representing measure of the value of the goods and services purchased by, or on the behalf of, 'persons'

Answer: economic indicator representing a change in prices of goods and services for a specified period, for a given statistical area