Answer:
The answer is A.
Explanation:
If a person's wealth is in cash, price level changes in the economy will definitely affect the his monetary wealth.
Price level changes arise as a result of inflation. Increase in general price level in the economy will reduce the purchasing power of the cash. For example, a good that used to sell for $2, it now goes for $5.
And if there is decrease in general price level, the purchasing power of the cash will increase.
Answer:
O Concert tickets
Explanation:
Elastic demand is the demand that is highly responsive to changes in prices. A small change in price causes the demand to change by a big proposition. When the demand is elastic, the change in demand is not propositional to changes in price.
Non-essential goods tend to have elastic goods. These are the goods that consumers can survive without. Demand for non-essential tends to decrease or increase in a big proposition when prices rise or fall by a small margin. From the list provided, concert tickets are non essential goods.
Option C: Because the aggregate demand curve slopes downward and there is an inverse relationship between the price level and spending, spending falls as the price level rises and the interest rate rises.
Wealth is the sum of all assets owned by a company, individual, organization, or other entity.It is the cash or market value, expressed in dollars, of all acquired assets after deducting all debts.
What is the impact of interest rates?
The term "interest rate effect" refers to any changes in the macroeconomic environment brought about by changes in the country's interest rate directly.
The term "interest-rate effect" describes how a change in the price level affects interest rates and, as a result, investment spending and consumption.Interest rates rise when prices rise, which reduces spending on investments and consumption, particularly on durable goods.
Learn more about interest rate here:
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