If P represents the price of goods and services measured in money, then 1/P is the value of money measured in terms of goods and services.

Name: If P represents the price of goods and services measured in money, then 1/P is the value of money measured in terms of goods and services.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

1/P represents how much goods and services can be bought with one unit of money, thus measuring the value of money in terms of goods and services.

If P Represents the Price of Goods and Services Measured