As the General Price Level in the Country of Norweinshire

question 50

Multiple Choice

As the general price level in the country of Norweinshire rose, the average interest rate in the economy increased, thereby lowering aggregate expenditure.This relationship between price level, interest rate, and aggregate expenditure is referred to as the:

• A)total price effect.
• B)interest rate effect.
• C)wealth effect.
• D)real-balance effect.
• E)income effect.

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