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Business, 20.02.2020 03:45 caplode5112

Suppose that the price of food increases by 2%, the price of clothing increases by 4%, and food and clothing each account for half of expenditures; therefore, the overall inflation rate is 3%. A 3% increase in income is necessary to achieve the same level of utility. true/false

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Suppose that the price of food increases by 2%, the price of clothing increases by 4%, and food and...
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