Question

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Refer to the article “The Value of Money” in your Money, Money, Money magazine for a complete version of this text.

What can readers determine from the “Inflation vs. Wages” graphic on page 31?

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Answer 1

Readers can determine that inflation has increased faster than wages over time, meaning that the purchasing power of money has decreased.

Step-by-step explanation:

This answer is based on the information given in the article “The Value of Money” on page 30, which states:

• “Inflation is the general increase in prices over time. When inflation occurs, the value of money decreases because it can buy less goods and services than before. Wages are the income earned by workers for their labor. Ideally, wages should increase at the same rate as inflation to maintain the standard of living of workers. However, this is not always the case. Sometimes, wages increase slower than inflation, meaning that workers can afford less with their income than before.”