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Ceteris paribus, if the income elasticity of money demand is 3/4 and income increases 8%, by about how much does the price level change? A.

Ceteris paribus, if the income elasticity of money demand is 3/4 and income increases 8%, by about how much does the price level change?

A. Rises by 6%

B. Rises by 8%

C. Falls by 6%

D. Unchanged

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