(Answered) Suppose the price level and value of the us dollar in

Economics

Suppose the price level and value of the U.S. Dollar in year 1 are 1 and $1, respectively.

a. If the price level rises to 1.15 in year 2, what is the new value of the dollar?

b. If, instead, the price level falls to 0.60, what is the value of the dollar?

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Business Economics, Economics

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