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nakungth nakungth
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6 years ago
Suppose that a consumer's increase in nominal income from the base year exceeds the inflation level given by a Paasche cost of living index for their level of purchases:

    (  <  ) 

Is this information enough to imply how the consumer's level of well-being has changed?  (Hint: Use a revealed preference argument.)
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Microeconomics

Microeconomics


Edition: 8th
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boransalboransal
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6 years ago
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nakungth Author
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#2
6 years ago
A+ answer, ty
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