Deflation
A) is a typical economic event in the U.S. economy.
B) is scheduled by the nation's economists to make economic corrections.
C) occurs only in command economies.
D) is a general decrease in the level of prices.
E) is characteristic of a mixed economy.

Question

Quizplus · Accepted Answer

Deflation refers to a general decrease in the level of prices, which can occur in any type of economy. It is generally considered to be a negative economic event as it can lead to lower levels of economic activity and potentially a recession. Deflation is not a scheduled event and is not limited to certain types of economies.