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Old 12-11-2018, 08:32 PM   #1
Undertoad
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That's right. If you are going to use a burger as an economic index, you have to use the Big Mac.
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Old 12-14-2018, 05:23 PM   #2
Flint
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Quote:
For example, using figures in July 2008:[5]

the price of a Big Mac was $3.57 in the United States (varies by store)
the price of a Big Mac was £2.29 in the United Kingdom (varies by region)
the implied purchasing power parity was $1.56 to £1, that is $3.57/£2.29 = 1.56
this compares with an actual exchange rate of $2.00 to £1 at the time
(2.00-1.56)/1.56 = 28%
the pound was thus overvalued against the dollar by 28%
Nice.
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Old 12-14-2018, 07:01 PM   #3
Griff
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In the paper, Amanda Y. Agan of Rutgers University and Michael D. Makowsky of Clemson University analyzed the effect of 200 state and federal minimum wage increases on 6 million people released from prison between 2000 and 2014. What they found was striking: Raising the minimum wage by $0.50 reduced the chance that a person would end up incarcerated within a year by 2.8 percent.
https://www.citylab.com/equity/2018/...divism/571948/
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Old 12-15-2018, 01:09 AM   #4
xoxoxoBruce
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minimum ain't enough...
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Old 12-15-2018, 09:28 AM   #5
tw
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Quote:
Originally Posted by Flint View Post
Nice.
That clearly says nothing about inflation. All this was discussed previously:
Would someone give me the short version of this basic economics question?
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