Which condition is characterized by a normal MCV?

Anemia of chronic disease is characterized by a normal mean corpuscular volume (MCV). In this condition, the anemia is typically normocytic, meaning that the size of red blood cells remains within the normal range. Anemia of chronic disease results from the inflammatory response to chronic illness, which alters iron metabolism and red blood cell production.

In contrast, the other conditions listed typically result in either microcytic or macrocytic anemia, leading to abnormal MCV values. Iron deficiency anemia typically presents with a decreased MCV due to smaller red blood cells, while pernicious anemia and folic acid deficiency usually exhibit elevated MCV because of larger, immature red blood cells caused by impaired DNA synthesis. Thus, the specific presentation of anemia of chronic disease with a normal MCV makes it the correct answer.