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Suppose that in some country the price of silver increased from $30 per ounce to $31 per ounce during a time when the overall price level increased by 5 percent. during this period, the real price of silver

a. might have increased, decreased or stayed the same; more information is needed to be sure.
b. increased.
c. stayed the same.
d. decreased.

1 Answer

5 votes
The answer is b. increased.
User Roblovelock
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