What is a decrease in the general level of the prices of goods and services? Question 8 options: Stagflation Creeping inflation Hyperinflation Deflation

Deflation is the good answer.

Explanation:

It is usually associated with a contraction of the supply and credit in an economy. The purchasing power of a currency rises over time in deflationary conditions. The nominal costs of capital, labor, goods and services fall, although their relative prices may remain unchanged.