Q. A persistent fall in the general price level of goods and services is known as __:
Answer: Deflation
Notes: Inflation refers to rise in general price level of goods and services, deflation is fall in general price level of goods and services. Deflation is inflation in negative zone, i.e. a decrease in the general price level of goods and services.

8

The above question is part of 35000+ General Studies MCQ Series Course on GKToday Android app.