Suppose the price level and value of the U.S dollar
eiraszero11cu
Answered question
2021-12-31
a. If the price level rises to 1.40 in year 2, what is the new value of the dollar?
b. If, instead the price level falls to 0.80, what is the value of dollar?
Answer & Explanation
abonirali59
Beginner2022-01-01Added 35 answers
Price level = 1
Value of U.S dollar = $1
The relation between the price level or inflation rate and value of a currency is as follows:
Value of currency =nominal currency value /price level
a. If the price level rises to 1.40, the value of dollar can be computed as:
b. When price level fall to 0.80, the value of dollar is:
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