The following appeared in a news article: Inflation in the Lehigh Valley during the first quarter of

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The following appeared in a news article: "Inflation in the Lehigh Valley during the first quarter of ... [the year] was less than half the national rate. ... So, unlike much of the nation, the fear here is deflation-when prices sink so low the CPI drops below zero." Do you agree with the reporter's definition of deflation? Briefly explain.
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Economics

ISBN: 978-0134106243

6th edition

Authors: R. Glenn Hubbard

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