Excuse the weird title, but I think a. Example should make it clearer, when people say: person A had money in 1900, say 100,000$, that is equal to 1,000,000$ in todays money?
How does that work?
Or what do they mean exactly?
Like if my Great grandfather had 1 million that remained untouched till this day shouldn’t that 1 million remain as a 1 million even today?
In: Economics
You grow apples. You exchange apples for stuff around the town. So say 10 apples gets you a beer.
Other people start planting apple trees and now there’s an abundance of apples. Each is worth less because there are plenty. So now the bar wants 20 for the beer.
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