If P Denotes the Price of Goods and Services Measured

question 86

Multiple Choice

If P denotes the price of goods and services measured in terms of money,then

• A)1/P represents the value of money measured in terms of goods and services.
• B)P can be regarded as the "overall price level."
• C)an increase in the value of money is associated with a decrease in P.
• D)All of the above are correct.

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Definitions:

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