Author Question: If you feel you are better off because you receive a 10 percent raise even when the price level also ... (Read 117 times)

a0266361136 · **on:** Jun 30, 2018

If you feel you are better off because you receive a 10 percent raise even when the price level also increases by 10 percent, then you are a victim of the

A) real purchasing power effect. B) money income effect.
C) real income effect. D) money illusion.

Question 2

Aggregate supply

A) is the overall wealth within an economy.
B) is the total of all planned production in an economy.
C) is the total amount of raw materials available in an economy.
D) is the total amount of money circulating in an economy.