These two dynamic feedback effects can offset the interest rate, international, and money wealth effects:
What is price level?
The price level is determined by averaging the current prices for all the goods and services produced in an economy. Price level, in a broader sense, refers to the cost or price of a good, service, or security in the market.
What happens when price level increases?
Rising prices are referred to as inflation. A decrease in prices is referred to as deflation. Pricing and client purchasing power also have a link. The purchasing power of money generally declines as prices increase.
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