$20$:$38$

$67$

Why Is AD Downward$-$sloping?

Unanswered $-$ Due on Jul $20,23$:$59$

Which of the following best describes the "wealth effect"?

A

When the price level falls, the nominal value of household wealth falls.

B

When the price level falls, the nominal value of household wealth rises.

C

When the price level falls, the real value of household wealth falls.

D

When the price level falls, the real value of household wealth rises.