Card 18 / 145: Suppose you are forced to take a pay cut of 5 percent when the economy is experiencing overall deflation of 5 percent. If in response to your pay cut you also reduce your consumption by 5 percent, then economists would say:
A) you made a rational decision.
B) the quantity theory of money held.
C) your real wage decreased by 5 percent.
D) you are exhibiting money illusion.

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