Deflation is a:
A) sustained fall in the aggregate price level.
B) sustained increase in the aggregate price level.
C) steady, unchanging aggregate price level.
D) steady fall in the exchange rate.

Question

Quizplus · Accepted Answer

Deflation refers to a sustained fall in the aggregate price level of goods and services in an economy over a period of time. This is the opposite of inflation, which is a sustained increase in the aggregate price level.

Deflation Is A