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

    (  <  )   

Show that this information implies that the consumer is strictly worse-off as compared to the base year.  (Hint: Use a revealed preference argument.)
Textbook 
Microeconomics

Microeconomics


Edition: 8th
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oracledarrenoracledarren
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6 years ago
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