An Individual Holds $10,000 in a Non-Interest-Earning Checking Account, and the Overall

question 209

Multiple Choice

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

• A) the individual's real wealth to decrease and consumption to decline.
• 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) the individual's wealth to increase.

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Definitions:

Chloroplasts

Organelles found in plant cells and some algae that conduct photosynthesis, converting light energy into sugar.

Photosynthesis

The process by which green plants and some other organisms use sunlight to synthesize nutrients from carbon dioxide and water, producing oxygen as a byproduct.

Stroma

Region within a chloroplast that surrounds the grana; contains enzymes involved in the synthesis of carbohydrates during the Calvin cycle of photosynthesis.

Chloroplast

Membrane-bound organelle in algae and plants with chlorophyll-containing membranous thylakoids; where photosynthesis takes place.