3. Suppose you have $500 in savings when the price level index is at 100.(a ) If inflation pushes the price level up by 10 percent, what will be the real value ofyour savings?(b ) What is the real value of your savings if the price level declines by 10 percent?
3. Suppose you have $500 in savings when the price level index is at 100.(a ) If inflation pushes the price level up by 10 percent, what will be the real value ofyour savings?(b ) What is the…

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