2012 · Q112
Which one among the following is an appropriate description of 'deflation'?
General KnowledgeEconomics
- AIt is a sudden fall in the value of a currency against other currencies
- BIt is a persistent recession in the economy
- CIt is a persistent fall in the general price level of goods and services
- DIt is a fall in the rate of inflation over a period of time
Explanation
Deflation is a persistent fall in the general price level.