Multiple Choice
Your total wealth is $1,000, which you are holding in your savings account. If the price level rises by 10 percent, your wealth
A) increases by an unknown amount.
B) is unchanged.
C) decreases to $990.
D) is worth 10 percent less than before the price level change.
E) increases to $1,100.
Correct Answer:
Verified
Correct Answer:
Verified
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