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Fiscal Policies

The general p...

Question

The general price level in an economy decreases during deflation.

A

True

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B

False

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Solution

The correct option is A True

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(I) Deflation is a decrease in the general price level of goods and services. It occurs when the inflation rate falls below 0%.

(II) Disinflation is the same phenomenon as deflation.

Q. Consider the following statements:
(1) Deflation is decrease in the general price level of goods and services.
(2) Deflation is the negative inflation rate which falls below

0

%.
Which of the statements given above is/are correct?

Q. What is an increase in the general price level in an economy called?

Q. Inflation is the general increase in the price levels of goods and services in an economy

Q. Inflation is the general increase in the price levels of baskets of goods and services in an economy

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Fiscal Policies

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