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16-12-2019
Advanced Placement (AP)

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How does a rise in the “general price level” differ from the increase in the price of one good?

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17-12-2019

Answer:

A rise in the general price level would much more bigger than an increase of the price of one good.

Explanation:

The general price level is the overall average price of all goods and services. An increase of one good is just an individual that is part of the general price level.

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