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Suppose you had a choice between living in the United States in 1900 with an income of $1 comma 057 comma 000 per year or

Suppose you had a choice between living in the United States in 1900 with an income of $1 comma 057 comma 000 per year or in the United States in 2020 with an income of $56 comma 000 per year. Assume the incomes for both years are measured in 2020 dollars

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