Total savings by contributors to IRAs increased

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From 1983 to 1987, a period of rapid economic growth in the U.S., total savings by contributors to IRAs increased by approximately the amount of their IRA contributions. Does this show that virtually all of their IRA savings were “new” savings—money that would not have been saved in the absence of the IRA program? Justify your answer.

Reference no: EM13978297

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