If the price level doubled and someone wanted to maintain the same level of purchasing power, the nominal quantity of money demanded: A) must decrease. B) also must double. C) must increase by 50%. D) must stay the same.
If the price level doubled and someone wanted to maintain the same level of purchasing power, the nominal quantity of money demanded: A) must decrease. B) also must double. C) must increase by 50%. D) must stay the same.
Chapter13: Inflation
Section: Chapter Questions
Problem 7SQP
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Question
If the price level doubled and someone wanted to maintain the same level of |
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|
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A) |
must decrease. |
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B) |
also must double. |
|
C) |
must increase by 50%. |
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D) |
must stay the same. |
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