Multiple Choice
If you have $1,000 in wealth and the price level increases 20 percent, then
A) the $1,000 dollars will buy 20 percent more goods and services.
B) you will be able to buy fewer goods, but the real value of those goods will increase.
C) the real value of the $1,000 increases.
D) the $1,000 will buy fewer goods and services.
Correct Answer:
Verified
Correct Answer:
Verified
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