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    Principles of Economics Study Set 11
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    Exam 21: The Price Level and Inflation
  5. Question
    Explain How to Convert a Price in an Earlier Time
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Explain How to Convert a Price in an Earlier Time

Question 106

Question 106

Essay

Explain how to convert a price in an earlier time into the equivalent price in today's dollars.Give a worked example and interpret the result.

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The equation used is blured image where the two pric...

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