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Question
A persistent fall in the general price level of goods and services is known as?
A persistent fall in the general price level of goods and services is known as?
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Solution
The correct option is A Deflation
Inflation refers to a rise in the general price level of goods and services, deflation is the fall in the general price level of goods and services. Deflation is inflation in negative zone, i.e., a decrease in the general price level of goods and services.
Inflation refers to a rise in the general price level of goods and services, deflation is the fall in the general price level of goods and services. Deflation is inflation in negative zone, i.e., a decrease in the general price level of goods and services.
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