When the price level falls, the number of dollars needed to buy a representative basket of goods a decreases, so the value of money falls. b decreases, so the value of money rises. c increases, so the value of money rises. d increases, so the value of money falls.

Question

Business

Uriah Schultz

31 July, 07:17

When the price level falls, the number of dollars needed to buy a representative basket of goods a decreases, so the value of money falls. b decreases, so the value of money rises. c increases, so the value of money rises. d increases, so the value of money falls.

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Answers (1)

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Lyric Hanna · Answer 1

When the price level falls, the number of dollars needed to buy a representative basket of goods

decreases, so the value of money falls

Explanation:

This best explains the law of demand and supply, the higher the price the lower the quantity demanded while the lower the price the higher the quantity demanded.