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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

ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
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
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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