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In which of the following circumstances is deflation mostly likely to occur? a) When the unemployment rate has been very high for a long period
In which of the following circumstances is deflation mostly likely to occur?
a) When the unemployment rate has been very high for a long period of time.
b) When an economy has been through a prolonged period of unusually low unemployment.
c) When people are working longer hours.
d) When the price of inputs is rising dramatically.
e) When people expect the price of goods and services to increase in the future.
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