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Answer question 14, 15 & 16 on the basis of the following table: Year Price Level 1.00 1.25 0.80 0.50 Value of Dollar $1.00 2



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Answer #1

Value of dollar = 1/price

54)value of dollar in year 2= 1/1.25= 0.80

55) value of dollar in year 3= 1/0.80= 1.25

56) value of dollar in year 4= 1/0.50= 2

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