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When there is a general decrease in prices, that is called ___Select one:a. Hyperinflationb. Deflationc. Inflationd. Stagflation

Question

When there is a general decrease in prices, that is called ___Select one:a. Hyperinflationb. Deflationc. Inflationd. Stagflation

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Solution

The correct answer is b. Deflation. When there is a general decrease in prices, it is referred to as deflation.

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