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"Price is not the same thing as value. Suppose that on a day the price of everything viz., coal, bread, postage stamps, a day’s labour, the rent of houses, etc. were to double. Prices then would certainly rise, but values of all things except one would not."

The writer wants to say that if prices of all things were doubled


1. the values of all things would remain constant.
2. the values of the things sold would be doubled.
3. the values of the things bought would be halved.
4. the value of money only would be halved.

1 Answer

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Best answer
Correct Answer - Option 4 : the value of money only would be halved.

Option 1 and 2 can be eliminated because it can be understood from the statement that value would not remain constant and value would not get doubled. 

Option 3 can be eliminated because value of things does not depend on its price.

Option 4 is correct because when prices are doubled, the value of money becomes half. One can buy half the thing with same amount of money.

Hence, option 4 is the correct answer.

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