Chat with AI
Macroeconomics 20th Edition by Campbell McConnell ,Stanley Brue ,Sean Flynn
Edition 20ISBN: 978-0077660772Macroeconomics 20th Edition by Campbell McConnell ,Stanley Brue ,Sean Flynn
Edition 20ISBN: 978-0077660772 Exercise 23
Recall the formula that states that $ V = 1/ P , where V is the value of the dollar and P is the price level. If the price level falls from 1 to 0.75, what will happen to the value of the dollar?
A) It will rise by a third (33.3 percent).
B) It will rise by a quarter (25 percent).
C) It will fall by a quarter (225 percent).
D) It will fall by a third (233.3 percent).
A) It will rise by a third (33.3 percent).
B) It will rise by a quarter (25 percent).
C) It will fall by a quarter (225 percent).
D) It will fall by a third (233.3 percent).
Explanation
Verified
Verified
Options c. and d. are incorrec...
Macroeconomics 20th Edition by Campbell McConnell ,Stanley Brue ,Sean Flynn
Why don’t you like this exercise?
Other Minimum 8 character and maximum 255 character
Character 255
