Irving Fisher described debt deflation as:
A) increasing aggregate demand and improving the economic downturn, leading to less deflation.
B) reducing aggregate demand and worsening the economic downturn, leading to further deflation.
C) reducing the debt obligation of borrowers as they become better off under deflation.
D) hurting lenders by reducing the value of their loans and lowering the interest rate on loan.
Correct Answer:
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