8. The inflation rate is the A. price level in the current period. B. change in the gross domestic product (GDP)hom an earlier period. C. change in the price level from an earlier period. - n narcent change in the price level from an earlier period.

The correct answer is C. The inflation rate is the change in the price level from an earlier period.<br /><br />Inflation refers to the general increase in prices of goods and services over time, which leads to a decrease in the purchasing power of money. The inflation rate is a measure of the percentage change in the price level from one period to another, typically expressed as an annual percentage.<br /><br />Option A is incorrect because the price level in the current period is not the same as the inflation rate. The price level refers to the average level of prices of goods and services at a given point in time, while the inflation rate measures the change in the price level over time.<br /><br />Option B is also incorrect because the change in GDP from an earlier period is not the same as the inflation rate. GDP measures the total value of goods and services produced within a country during a specific period, while the inflation rate measures the change in the price level over time.<br /><br />Therefore, the correct answer is C. The inflation rate is the change in the price level from an earlier period.