A persistent fall in the general price level of goods and services is known as
- ADeflation
- BDisinflation
- CStagflation
- DDepression
Solution & Step-by-step Explanation
Let's understand the related economic terms:
* Deflation is defined as a persistent, sustained decrease in the general price level of goods and services, associated with a negative inflation rate.
* Disinflation is a slowing down in the rate of inflation (prices are still rising, but at a slower pace).
* Stagflation is a situation characterized by slow economic growth accompanied by high unemployment and high inflation.
* Depression is a severe, long-term economic downturn.
* Deflation is defined as a persistent, sustained decrease in the general price level of goods and services, associated with a negative inflation rate.
* Disinflation is a slowing down in the rate of inflation (prices are still rising, but at a slower pace).
* Stagflation is a situation characterized by slow economic growth accompanied by high unemployment and high inflation.
* Depression is a severe, long-term economic downturn.