A decrease in the average level of prices of goods and services is
A)Deflation.
B)Recession.
C)Depression.
D)Inflation.

Name: A decrease in the average level of prices of goods and services is A)Deflation. B)Recession. C)Depression. D)Inflation.
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Question

Quizplus · Accepted Answer

A decrease in the average level of prices of goods and services is known as deflation. Recession and depression refer to a decline in economic activity, while inflation refers to an increase in the average level of prices.

A Decrease in the Average Level of Prices of Goods