Deflation

question 100

Multiple Choice

Deflation:

• A) can cause increases in output.
• B) can cause budget surpluses.
• C) can cause decreases in output.
• D) will not affect output.

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Definitions:

Industrial Revolution

A period of major industrialization that took place during the late 1700s and early 1800s, leading to significant changes in technology, economics, and society.

Stratification

The arrangement or classification of society into different layers or classes based on factors like wealth, income, race, education, and power.

1700s

The 1700s, or the 18th century, was a period marked by significant political, cultural, and scientific developments, including the Enlightenment and the start of the Industrial Revolution.

Gini Index

A measure of income inequality. Its value ranges from 0 (which means that every household earns exactly the same amount of money) to 1 (which means that all income is earned by a single household).