a decrease in the price of goods and services

The general idea is that deflation is a decrease in the price of goods and services.

a sustained decrease in the general price level

Deflation is a sustained decrease in the general price level (after Inflation drops below zero percent) resulting in a sustained increase in the real value of money and other monetary items.

the opposite of inflation and inflation

Deflation is the opposite of inflation and inflation is characterized by a sustained decrease in the general level of prices for goods and services.

a net decrease in money supply and credit

Deflation is a net decrease in money supply and credit.

a decrease in average prices throughout an economy

Deflation is a decrease in average prices throughout an economy.

the opposite of inflation, which represents widespread price increases of goods and services in an economy

Deflation is the opposite of inflation, which represents widespread price increases of goods and services in an economy.

the term economists use to describe a “general decline in prices, often caused by a reduction in the supply of money or credit

Deflation is the term economists use to describe a “general decline in prices, often caused by a reduction in the supply of money or credit.

the economic term used to describe the drop in prices for goods and services

Deflation is the economic term used to describe the drop in prices for goods and services.

a prolonged drop in prices and wages

Deflation is a prolonged drop in prices and wages.

an economic condition in which prices fall steadily throughout the economy

TRUE Explanation: Deflation is an economic condition in which prices fall steadily throughout the economy.

the collapse in the supply of money and credit

Deflation is the collapse in the supply of money and credit, and that is not avoidable.

the opposite— a period of falling prices

Deflation is the opposite—a period of falling prices.

general decline in prices

Deflation is a zero possibility - as deflation is a general decline in prices and most prices are rising in the UK and in the US.

a prolonged drop in prices and wages that can make people unwilling to spend

Deflation is a prolonged drop in prices and wages that can make people unwilling to spend.

a side effect of a collapse of aggregate demand – a drop in spending so severe that producers must cut prices on an ongoing basis in order to find buyers

Deflation is in almost all cases a side effect of a collapse of aggregate demand – a drop in spending so severe that producers must cut prices on an ongoing basis in order to find buyers.