Question: I need help with this assignment. thanks. 1 . Go to this website (http://www.measuringworth.com/ppowerus/) for the Purchasing Power Calculator at MeasuringWorth.com. How much money would
I need help with this assignment. thanks.
1. Go to this website (http://www.measuringworth.com/ppowerus/) for the Purchasing Power Calculator at MeasuringWorth.com. How much money would have taken in 2018 to purchase what one dollar would have bought in the year of your birth?
2. If inflation rises unexpectedly by 5%, indicate for each of the following whether the economic actor is helped, hurt, or unaffected:
a. Someone with a large stash of cash in a shoe box in their closet.
b. A bank lending money at a fixed rate of interest
c. A union member with a COLA wage contract
d. A person who is not due to receive a pay raise for another 11 months
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