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Q1.23: Ethel's salary has increased by 3 percent, and the CPI has increased by 3.8 percent. What does this mean for Ethel? A Her standard

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Q1.23: Ethel's salary has increased by 3 percent, and the CPI has increased by 3.8 percent. What does this mean for Ethel? A Her standard of living has improved. B Her savings rate has to be at least 3.8 percent to keep pace with inflation. Her standard of living has declined. Her purchasing power is higher

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