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In 1980 the Commonwealth of Virginia set the threshold for felony theft (a more serious criminal charge than a misdemeanor) at a value of $200

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In 1980 the Commonwealth of Virginia set the threshold for felony theft (a more serious criminal charge than a misdemeanor) at a value of $200 but then didn't adjust that threshold for inflation until just last year. That means that over time less and less serious thefts-in real terms-became treated as felonies. The law defining the threshold for felony theft in Virginia was finally changed to $500 in 2018. Assume that the CPI was 82.4 in 1980 and 248.0 in 2018. Which threshold for felony theft was higher in real terms: $200 in 1980, or $500 in 2018? Explain your answer and show your work. 12pt Paragraph B I U A & Tv V V

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