Question
The value of money varies
Answer: Option D
Answer: (d)
The variation in the value of money is always accompanied by the opposite variation in the price of commodities and services.
In brief, the value of money varies inversely with the price level. It is reciprocal of the price level.
Vm =1/p (where Vm denotes the value of money and p stands for price level).
Was this answer helpful ?
Answer: (d)
The variation in the value of money is always accompanied by the opposite variation in the price of commodities and services.
In brief, the value of money varies inversely with the price level. It is reciprocal of the price level.
Vm =1/p (where Vm denotes the value of money and p stands for price level).
Was this answer helpful ?
More Questions on This Topic :
Latest Videos
Latest Test Papers
Submit Solution