Quizzol

QUESTION:

If the price level doubles, _______.

a. the quantity demanded of money falls by half

b. the nominal money supply has been reduced by half

c. nominal income is unaffected

d. the value of money has been reduced by half

e. none of the answer choices are correct

ANSWER:

d. the value of money has been reduced by half

Posted by Cleveland on September 10, 2024