PPSCFPSCNTSPakistan govt jobs
- Subject
- Basic of Economicseconomics-mcqs › basic-of-economics
- Published
- 26 May 2019
- Last updated
- 28 May 2026
Which of the following best describes deflation?
Multiple choice question for Basic of Economics. Select an option, then review the explanation below.
Explanation
Option A refers to a budget shortfall, B relates to tax cuts, and C involves increased government expenses. Deflation specifically means a decline in the general price level, making it the reverse of inflation, which is captured by option D.
More Basic of Economics MCQs
Practice related questions from the same subject.
- 1.Under what condition can two nations benefit from engaging in international trade?
- 2.Which of the following represents a legitimate form of currency?
- 3.Which political ideology is best summarized by the phrase, "From each according to his ability, to each according to his needs"?
- 4.Which type of currency experiences a decline in its exchange rate due to a continuous balance of payments deficit?
- 5.What is the standard abbreviation used to denote barrels when measuring oil?