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What is the difference between inflation, deflation, recession and depression?

April 26, 2017deflation depression difference inflation recession

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What is the difference between inflation, deflation, recession and depression?

1 Answer

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10 Posted

Inflation involves a progressive increase in prices, deflation is a contraction of economic activity resulting in a decline of prices, recession is when the state of the economy declines and depression is characterized by unemployment and low prices.