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Question
The tendency of the people to believe the currency of nominal value at present to be equal to purchasing power at a previous point is called ______.
Options
Legal tender money
Demonetisation
Money illusion
Remonetisation
MCQ
Fill in the Blanks
Solution
The tendency of the people to believe the currency of nominal value at present to be equal to purchasing power at a previous point is called money illusion.
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Macroeconomic Identities
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