Problem regarding the mild deflation

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During the late nineteenth century in the United States, many farmers borrowed heavily to buy land. During most of the period between 1870 and the mid-1890s, the United States experienced mild deflation: The price level declined each year. Many farmers engaged in political protests during these years, and deflation was often a subject of their protests. Explain why farmers would have felt burdened by deflation.

Reference no: EM131023416

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