In general, purchasing power increases when the price of which good falls?
A) inferior
B) all
C) normal
D) Giffen

Name: In general, purchasing power increases when the price of which good falls? A) inferior B) all C) normal D) Giffen
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Question

Quizplus · Accepted Answer

When the price of all goods falls, purchasing power generally increases because consumers can buy more with the same amount of money. This is not limited to any specific type of good (inferior, normal, or Giffen).

In General, Purchasing Power Increases When the Price of Which