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Brief Principles of Macroeconomics...

8th Edition
N. Gregory Mankiw
ISBN: 9781337091985

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BuyFindarrow_forward

Brief Principles of Macroeconomics...

8th Edition
N. Gregory Mankiw
ISBN: 9781337091985
Textbook Problem

Explain how an increase in the price level affects the real value of money.

To determine

The level of price and the value of money.

Explanation

A rise in the price level lowers the real value of money. This is because people will have to pay more to the...

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