When the price of a good rises, consumer's purchasing power is:
A) unaffected.
B) increased.
C) decreased.
D) maximized.

Name: When the price of a good rises, consumer's purchasing power is: A) unaffected. B) increased. C) decreased. D) maximized.
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Question

Quizplus · Accepted Answer

When the price of a good rises, the consumer's purchasing power decreases because they can now buy less of that good with the same amount of money.

When the Price of a Good Rises, Consumer's Purchasing Power