Answer to Question #103614 in Economics for nur

Question

To see what is going on, economists often “adjust”
the data to refl ect changes in the economy. For
instance, in the text, we discussed the adjustments
in dollar amounts made to correct for infl ation.
Another adjustment that is frequently made
is to take into account the increase in population.
What adjustments might you make in looking
at education expenditures? At Social Security
expenditures?

Answer 1

The adjustments you might make in looking at education expenditures are the level of education, specialization, city in which you study, the level of your income etc.

The adjustments to social security depend on age, years worked, average salary etc.