If individuals have money illusion then they
A) think that money is worthless.
B) ignore the effects on their income or wealth of some price changes in the economy.
C) they base their production and consumption decisions on relative rather than absolute prices.
D) Both B and C.
Correct Answer:
Verified
Q1: Economists use general equilibrium models of an
Q2: Q4: In autarky,when a community maximizes its standard Q5: _ analysis by economists refers to the Q6: In autarky equilibrium, Q7: In autarky,when a community maximizes its standard Q8: Indifference curves are downward sloping because Q9: _ analysis by economists refers to the Q10: An indifference curve Q11: 
A)production equals consumption.
B)exports equal imports.
C)there
A)when some
A)is a locus of bundles
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