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Tidy Tidy
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8 years ago
Suppose that in 2014, all prices in the economy double and that all wages and salaries also double. In 2014 you
A) are worse off than you were in 2013 as you can no longer afford to buy as many goods and services.
B) are better off than you were in 2013 as your salary is higher than it was in 2013 and you can now buy more goods and services.
C) are no better off or worse off than you were in 2013 as the purchasing power of your salary has remained the same.
D) cannot determine whether you are better off or worse off than you were in 2013, because the purchasing power of your salary cannot be determined.
Textbook 
Essentials of Economics

Essentials of Economics


Edition: 4th
Authors:
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Repeat after me: 'Calm down. Things are gonna be fine. Things are gonna be all great. Just relax.' Wink Face
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Chimelo46Chimelo46
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8 years ago
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#2
8 years ago
It was nothing, thanks for updating us.
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