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Suppose the wage of an industrial worker follows a path given by S =x2 and inflation rate during the same time is given by I=ex where x is the time in months. What can you say about his standard of living provided all other factors remain constant? Give reasons behind your observations. |
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Answer» Suppose the wage of an industrial worker follows a path given by S =x2 and inflation rate during the same time is given by I=ex where x is the time in months. What can you say about his standard of living provided all other factors remain constant? Give reasons behind your observations. |
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