Prices were much higher in the United States in 2015 than in 1890. Does this fact mean

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Prices were much higher in the United States in 2015 than in 1890. Does this fact mean that people were economically better off in 1890? Why or why not?

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Macroeconomics

ISBN: 9780134167398

9th Edition

Authors: Andrew B. Abel, Ben Bernanke, Dean Croushore

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Question Posted: Apr 16, 2024 02:01 AM

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Prices were much higher in the United States in 2015 than in 1890. Does this fact mean

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It does not at all mean that the level of prices was very low in 1890 so the general people were ver...View the full answer

Macroeconomics

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