Episode 306: Listener Questions: Contagion, Lawsuits, and Socialism, Pt. 1
Words & Numbers
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How Has the Quality Changed?
$1400, that's pretty much the right answer at any point in time. The interesting thing is that it didn't get cheaper. The quality got markedly better. And you have to keep in mind when economists calculate inflation, they take into account changes in quality. People who collect data on this will, for example, purchase a hamburger and actually take it apart,. weigh the meat, count how many slices of pickle are on there.
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