PLEASE, WRITE IN YOUR WORDS.

Think about what would happen if everything doubled in price while you slept. A soft drink that sold for a dollar, now sells for two dollars; a car that sold for $20,000 now sells for $40,000.

The price of labor doubled as well, so a job paying $6 an hour now pays $12; a $30,000 annual salary becomes a $60,000 annual salary.

The value of all assets doubled as well. Stock prices are twice what they were at yesterday's closing. A $1,000 bond becomes a $2,000 bond. A $35 balance in a checking account becomes $70, and so on.

Debts have also doubled. The $5 borrowed from a roommate becomes $10. The $3,000 in studentloansbecomes $6,000. A $75,000home mortgagebecomes a $150,000 mortgage.

And even cash balances double. The inflation fairy sneaks in at night and replaces the $10 bill in your wallet with a new $20 bill.

Please create a discussion post answering the following:

1)If the prices of EVERYTHING doubled overnight, what would happen?

2) What would happen if the cost of goods & services doubled overnight, but not your salary or savings?What changes would you make in your lifestyle?

to mt