A. it varies inversely with the price level
B. it varies directly with the price level
C. it depreciates in the period of deflation
D. it is not affected by the price level
Correct Answer:
Option A – it varies inversely with the price level
A. it varies inversely with the price level
B. it varies directly with the price level
C. it depreciates in the period of deflation
D. it is not affected by the price level
Correct Answer:
Option A – it varies inversely with the price level
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