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Explain the finding that people in high-income economies seem happier than people in low-income economies but over time people in high-income economies do not seem to be any happier

Explain the finding that people in high-income economies seem happier than people in low-income economies, but, over time, people in high-income economies do not seem to be any happier even if their country grows richer. DVD players and HDTVs have not been part of the U.S. economy for very long. Both goods have been decreasing in price and improving in quality. Describe the problems this poses for people who are responsible for computing a price index. Explain what the hedonic method is and why it is sometimes used to track changes in the Consumer Price Index. Explain why borrowers would be willing to pay a higher rate of interest if they expected the inflation rate to increase in the future.

Apr 30 2020 View more View Less

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