A rise in the price level that reduces the real wealth of people who hold financial assets is an illustration of the:

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The wealth effect is the phenomenon where a rise in the price level reduces the real value of financial assets (such as savings, investments, etc.) and thereby reduces the purchasing power or real wealth of people. As a result, they may curtail their spending, leading to a decline in aggregate demand and economic activity. This effect is one of the channels through which monetary policy influences the economy, as central banks often try to affect the aggregate demand by adjusting the money supply and interest rates.

A Rise in the Price Level That Reduces the Real