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nrod1120 nrod1120
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A year ago
When Terry retired from Caterpillar, he received a pension: Caterpillar would pay him $50,000 the first year he was retired, with the amount increasing by 5 percent each year thereafter. If inflation turned out to be 8 percent each year, what would happen to the real value of Terry's pension?

▸ It would increase each year by 3 percent.

▸ It would decrease each year by 5 percent.

▸ It would decrease each year by 3 percent.

▸ It would increase each year by 5 percent.
Textbook 
Macroeconomics

Macroeconomics


Edition: 3rd
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illusionldillusionld
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A year ago
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nrod1120 Author
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A year ago
Thanks
julymontalvo
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Yesterday
Thanks for your help!!
Brownr40
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2 hours ago
Helped a lot
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