Suppose you have $6,000 in savings when the price level index is at 100. a. What is
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Question:
Suppose you have $6,000 in savings when the price level index is at 100.
a. What is the real value of your savings if the price level increases by 12 percent for the year?
b. What is the real value of your savings if the price level declines by 5 percent for the year?
Related Book For
The Macro Economy Today
ISBN: 978-1259291821
14th edition
Authors: Bradley R. Schiller, Karen Gebhardt
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