Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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Question
Transcribed Image Text:"Start saving early because inflation reduces the value of your money"
If you agree with the sentence answer as "True"
If you dont agree with the sentence answer as "False"
Select one:
O True
O False
Expert Solution
Step 1
Inflation refers to the rise in the price of the commodities in an economy. It reduces the purchasing power of the customer. It means that customer has to pay more money than before for buying the same product or service. It can also be said that inflation increases the cost of living.
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