In the Land of Oz the Monetary Unit Is the Emerald

question 462

Multiple Choice

In the land of Oz the monetary unit is the emerald. Households and firms in Oz currently hold 100,000 emeralds. The price level is 100. If the price level jumps to 110 and other things remain the same, households and firms will _ .

• A) increase the money they hold by 10,000 emeralds
• B) increase the money they hold by 1,000 emeralds
• C) decrease the money they hold by 1,000 emeralds
• D) decrease the money they hold by 10,000 emeralds

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Definitions:

Cyclopean Masonry

A type of ancient construction technique characterized by the use of large limestone boulders, typically seen in Mycenaean Greek architecture.

Pompeii

An ancient Roman city near modern Naples in Italy, buried under volcanic ash in 79 AD by the eruption of Mount Vesuvius, known for its well-preserved archaeological remains.

Hellenistic Style

An artistic style that emerged after the death of Alexander the Great, characterized by increased emotional expression, dynamism, and complexity in art and sculpture.

Sanctuary of Fortuna Primigenia

An ancient Roman religious complex in Palestrina, Italy, dedicated to the goddess Fortuna, featuring impressive terraces, porticos, and architecture.