Determine which statement is the CORRECT statement?

Select one:

a. When the economy is in recession and jobs are hard to find, prices tend to fall.

b. Inflation affects only the more advanced countries, whereas less advanced countries face deflation.

c. Employment levels remained stable during the recessions, it is just low.

d. The model of supply and demand cannot be used to explain why a particular good or service becomes more expensive relative to other goods and services.