Year CPI-Consumer Price Index 1975 50 1983 100 2006 200 If you placed $1,000 in a savings account in 1983, which of the following is true based on the CPI in 2006? Your savings account now has $2,000 Your savings account still has 1,000 but the real value has increased to $2,000. You savings account now only has $500 dollars Your savings account still has 1,000 but the real value has decreased to $500
Year CPI-Consumer Price Index 1975 50 1983 100 2006 200 If you placed $1,000 in a savings account in 1983, which of the following is true based on the CPI in 2006? Your savings account now has $2,000 Your savings account still has 1,000 but the real value has increased to $2,000. You savings account now only has $500 dollars Your savings account still has 1,000 but the real value has decreased to $500
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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![Inflation Good or Bad
Year CPI-Consumer Price Index
1975 50
1983 100
2006 200
fyou placed $1,000 in a savings account in 1983, which of the following is true based on the CPI in 2006?
Your savings account now has $2,000
O Your savings account still has 1,000 but the real value has increased to $2,000.
O You savings account now only has $500 dollars
O Your savings account still has 1,000 but the real value has decreased to $500](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F97467fd2-b0c7-4643-adbc-cd7bee709de5%2F7a492909-ef27-4544-87b7-3ff26908b1b9%2F7wro35k_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Inflation Good or Bad
Year CPI-Consumer Price Index
1975 50
1983 100
2006 200
fyou placed $1,000 in a savings account in 1983, which of the following is true based on the CPI in 2006?
Your savings account now has $2,000
O Your savings account still has 1,000 but the real value has increased to $2,000.
O You savings account now only has $500 dollars
O Your savings account still has 1,000 but the real value has decreased to $500
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