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Answer to Question #329861 in Macroeconomics for Shahan

Question #329861

Prices are much higher in the Pakistan in 2022 than in 2010.

Does this fact mean that people were economically better off in

2010? Why or why not?


1
Expert's answer
2022-04-18T15:17:32-0400

In 2010 the prices in Pakistan could be lower. However, the purchasing capacity of people could be the same as in 2022. Inflation could be the reason for rising prices during 12 years.



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