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If a family's income does not increase as fast as the prices of the goods and services that it consumes, its standard of living will decline. This scenario describes the problems with ______.
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If a family's income does not increase as fast as the prices of the goods and services that it consumes, its standard of living will decline. This scenario describes the problems with ______.

User Jelle Fresen
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Inflation lowers the standard of living for people whose income does not increase as fast as the price level. Real GDP measures the: value of final goods and services produced within the borders of a country, corrected for price changes.

User Vahagn Nahapetyan
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