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33.(Consider This)  How was the practice of clipping coins during feudalism contributing to inflation?  Who benefited from this inflation?

33.(Consider This)  How was the practice of clipping coins during feudalism contributing to inflation?  Who benefited from this inflation?

ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
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33.(Consider This)  How was the practice of clipping coins during feudalism contributing to inflation?  Who benefited from this inflation?

34.What is core inflation?  Why is it used?

35.Answer the next four questions based on the following data using year 1 as the base year.  All dollars are in billions.

Year

Nominal income

CPI

1

$3166

100

2

3402

114

3

3774

108

4

3989

112

(a)Find real income in year 4.

(b)What was the percentage rise in prices between years 1 and 3?

(c)What was the percentage rise in prices between years 2 and 4?

(d)What was the increase in real income from year 3 to year 4 in percentage?

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