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Business, 06.11.2019 21:31 michaellangley

From 1929 through the early 1930s, the prices of consumer goods actually decreased. economists call this phenomenon deflation. the rate of deflation during this period was about 7% per year, meaning that prices decreased by 7% per year. to get a sense of what this rate would mean in the long run, let's suppose that this rate of deflation persisted over a period of 20 years. what would be the cost after 20 years of an item that costs $400 initially? (round your answer to the nearest cent.)

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From 1929 through the early 1930s, the prices of consumer goods actually decreased. economists call...

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