Which of the following is consistent with secular deflation? A) a per
Which of the following is consistent with secular deflation?
A) a persistently decreasing price level caused by money being withdrawn from the economy
B) a persistently increasing price level caused by several periods of economic growth with decreasing AD
C) a persistently decreasing price level caused by increases in government expenditures
D) a persistently decreasing price level caused by several periods of economic growth with stable AD
ANSWER
D
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