Explanation:

- Option 1: Employment level declines due to a decrease in demand.

- When demand falls, businesses face lower sales.

- They might cut jobs to reduce costs, causing employment levels to drop.

- Option 2: Price level falls due to deficient demand in the country.

- With less demand, there's downward pressure on prices.

- Sellers may lower prices to incentivize buying.

- Option 3: Production level falls due to deficient demand.

- Lower demand means businesses produce fewer goods.

- Reduced production helps avoid accumulating unsold inventory.

- Option 4: All of the above.

- Each scenario is a consequence of reduced demand.

- All options correctly describe this economic situation.

Option 4: All the above