Asked by Diante Pierce on Jul 11, 2024
Verified
The United States has never had deflation.
Deflation
A decrease in the general price level of goods and services, typically indicative of a reduction in the supply of money and credit in the economy.
- Detail the ideas of inflation and deflation, including the mechanisms for their determination.
Verified Answer
BC
Bryleigh CollinsJul 17, 2024
Final Answer :
False
Explanation :
The United States has experienced periods of deflation, notably during the Great Depression in the 1930s and other times in history, where the general level of prices for goods and services declined.
Learning Objectives
- Detail the ideas of inflation and deflation, including the mechanisms for their determination.