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    Principles of Economics Study Set 8
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    Exam 30: Money Growth and Inflation
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    Wages and Prices Are Many Times Higher Today Than They
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Wages and Prices Are Many Times Higher Today Than They

Question 180

Question 180

Essay

Wages and prices are many times higher today than they were 30 years ago, yet people do not work a lot more hours or buy fewer goods. How can this be?

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Inflation has raised the general price l...

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