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WAEC Economics 2001 Question 35

Question 35

Money and Inflation

The situation in which there is a persistent fall in the general price level is referred to as

  1. A.devaluation
  2. B.depreciation
  3. C.deflation
  4. D.inflation.
Show the answer and explanation

Answer: C (deflation)

Explanation

Deflation is a persistent fall in the general price level.