According to the real wealth effect, if you are living in a period of falling price levels
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According to the real wealth effect, if you are living in a period of falling price levels on a fixed income (that is not indexed), the cost of the goods and services you buy ____________ and your real income ____________.
a. decreases; decreases
b. increases; increases
c. decreases; remains the same
d. decreases; increases
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