What is deflation?
An example of an AI chatbot conversation about the economic concept of deflation.
What is deflation?
Deflation is the decrease in the general price level of goods and services in an economy over time.
What causes deflation?
Deflation can be caused by a reduction in the supply of money or credit, decreased demand for goods, or increased productivity.
What are the effects of deflation on the economy?
Deflation can lead to reduced consumer spending, increased unemployment, and can make debts more expensive in real terms.
How does deflation differ from inflation?
Inflation is the increase in the general price level, while deflation is the decrease. They represent opposite economic conditions.
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