An individual holds 10,000 in a checking account and the price ...

[student77]

An individual holds 10,000 in a checking account and the price level rises significantly. Hence
 
  A) the individual's real wealth and consumption expenditure decrease.
  B) the individual's real wealth decreases but real national wealth increases.
  C) there is no change in the individual's real wealth.
  D) the individual's real wealth increases.

Question 2

If the economy is at full employment
 
  A) the entire population is employed.
  B) the entire labor force is employed.
  C) the only unemployment is frictional unemployment plus discouraged workers.
  D) real GDP equals potential GDP.

[akemokai]

Answer to Question 1

A

Answer to Question 2

D