1.

(I) Deflation is a decrease in the general price level of goods and services. It occurs when the inflation rate falls below 0%. (II) Disinflation is the same phenomenon as deflation.

Answer»

(I) Deflation is a decrease in the general price level of goods and services. It occurs when the inflation rate falls below 0%.

(II) Disinflation is the same phenomenon as deflation.




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