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Suppose a family's income increases by 5 percent at the same time that inflation is 2 percent. Then the rev: 10_21_2020_QC_CS-236105 Multiple Choice family's standard

Suppose a family's income increases by 5 percent at the same time that inflation is 2 percent. Then the

rev: 10_21_2020_QC_CS-236105

Multiple Choice

family's standard of living will increase.

family's standard of living will decrease.

purchasing power of their income will decrease by 7%.

purchasing power of their savings will increase by 7%.

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