Which of the following is a valid difference between deflation and disinflation?
a. Deflation is a fall in average price levels, but disinflation is a reduced rate of inflation
b. Disinflation is a fall in average price levels, but deflation is a reduced rate of inflation.
c. Disinflation is a significant rise in average price levels, but deflation is a reduced rate of inflation.
d. Disinflation is a fall in average price levels, but deflation is a significant rise in average price levels.
a
Economics
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The efficiency wage model is an explanation of wage __________ and thus a support for the ____________________ view
A) flexibility; Keynesian B) flexibility; classical C) inflexibility; Keynesian D) inflexibility; classical
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