A) it is a sudden fall in the value of a currency against other currencies
B) It is a persistent recession in the economy
C) It is a persistent fall in the general price level of goods and services
D) It is fall in the rate of inflation over a period of time
Correct Answer: C
Solution :
Deflation is defined as a fall in the general price level of goods and services. It is a negative rate of inflation. It means the value of money increases rather than decreases.
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