If the quality of a good deteriorates while its price remains the same, then the value of a dollar a. Rises and the cost of living increases b. Rises and the cost of living decreases.    c. Falls and the cost of living decreases. d. Falls and the cost of living increases.

Principles of Economics 2e
2nd Edition
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
Chapter22: Inflation
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If the quality of a good deteriorates while its price remains the same, then the value of a dollar

a.

Rises and the cost of living increases

b.

Rises and the cost of living decreases.   

c.

Falls and the cost of living decreases.

d.

Falls and the cost of living increases.

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