Question
In Nov 2020, Jacob borrowed $1000 from Josh. Josh would like to have real return of 2% in Nov, 2021. They expected that the inflation
In Nov 2020, Jacob borrowed $1000 from Josh. Josh would like to have real return of 2% in Nov, 2021. They expected that the inflation would be 3% 1. How much money does Jacob return to Josh? 2. Now is Nov 2021. They found that the inflation is 4%. 1. Does Josh make money? Why? 2. Is Josh better off? Why? 3. Is Josh happy? Why?
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Modern Principles of Economics
Authors: Tyler Cowen, Alex Tabarrok
3rd edition
1429278390, 978-1429278416, 1429278412, 978-1429278393
