When we say the cost of living has gone up, we mean that, looking broadly over a range of goods and services, a dollar buys _______ it used to buy.

Name: When we say the cost of living has gone up, we mean that, looking broadly over a range of goods and services, a dollar buys _______ it used to buy.
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When the cost of living goes up, it means that prices of goods and services have increased. This leads to a decrease in the purchasing power of money, so a dollar can buy less than it used to.

When We Say the Cost of Living Has Gone Up