Suppose an economy produces only ice cream cones.If the price level rises,the value of currency
A) rises,because one unit of currency buys more ice cream cones.
B) rises,because one unit of currency buys fewer ice cream cones.
C) falls,because one unit of currency buys more ice cream cones.
D) falls,because one unit of currency buys fewer ice cream cones.
Correct Answer:
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Q8: The value of money rises as the
Q9: If the number of dollars needed to
Q10: The supply of money is determined by
A)the
Q11: When the price level falls,the number of
Q12: If P denotes the price of goods
Q14: When we assume that the supply of
Q15: If P denotes the price of goods
Q16: With the value of money on the
Q17: When inflation rises people will
A)demand more money
Q18: When there is inflation,the number of dollars
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