Business, 03.03.2020 03:00 elijahjacksonrp6z2o7

Suppose the price level reflects the number of dollars needed to buy a basket of goods containing one cup of tea, one biscuit, and one magazine. In year one, the basket costs $8.00.In year two, the price of the same basket is $7.00.
From year one to year two, there is at an annual rate of .
In year one, $40.00 will buy baskets, and in year two, $40.00 will buy baskets.
This example illustrates that, as the price level falls, the value of money .

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