An increase in the purchasing power of money would not,on average,result in an increase in the purchasing power of people's income because a ________ price level would likely mean ________ wages and salaries.

Question

Quizplus · Accepted Answer

A falling price level would likely mean falling wages and salaries, which would offset the increase in purchasing power of money, keeping the purchasing power of people's income relatively unchanged.

An Increase in the Purchasing Power of Money Would Not,on