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Why is that probably not the case

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Reference no: EM132115849

Econ question: Subject inflation

Question- Pretend that your grandparents bought a house seventy years ago for 30,000. Even though no major improvements have ever been made to the house , you could sell it today for 500,00. It looks like the house has gained 470,00 of value.

Why is that probably not the case?

Reference no: EM132115849

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