An Individual Holds $10 000 in an Interest-Earning Checking Account,and

question 73

Multiple Choice

An individual holds $10 000 in an interest-earning checking account,and the overall price level rises significantly.Other things constant,we would expect

• A)the individual's real wealth to decrease and consumption to diminish.
• B)the individual's stock of real wealth to decrease but real national income to increase.
• C)no change in the individual's real wealth but a decline in real national product.
• D)we cannot be sure since we do not know the magnitude of the interest earned relative to the increase in price level.

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