Question

3. Do you think that the general price level is of any relevance at the micro level?

Answer 1

Answer-

It is a well known proposition of macro-economics that when the general price level rises, the value of money (or the purchasing power of money) falls. This fall in the market value of assets leads to a decline in household and business spending.

Note-googled it

Source-google

|￣￣￣￣￣￣￣￣￣l

|   thanks if you l

I  liked my answer l

I Or marked it l

I Brainliest l            

|＿＿＿＿＿＿＿＿＿l

(\__/) ||  ll (\__/)

(•ㅅ•) ||  ll (•ㅅ•)

/ 　 づ  ⊂ \

⁽ᵀᵃʳᵍᵉᵗ⁻⁶⁰ ᶠᵒˡˡᵒʷᵉʳˢ⁾

Answer 2

What Is a Price Level?

A price level is the average of current prices across the entire spectrum of goods and services produced in the economy. In more general terms, price level refers to the price or cost of a good, service, or security in the economy.