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Question
An individual holds $10,000 in a non -interest-earning checking account, and the overall price level rises significantly. Other things being constant, we would expect
A) the individualʹs real wealth to decrease and consumption to decline.
B) the individualʹs stock of real wealth to decrease but real national income to increase.
C) no change in the individualʹs real wealth but a decline in real national product.
D) the individualʹs wealth to increase.
Answer
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Related questions
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Why?
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