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To see what is going on, economists often adjust the data to reflect changes in the economy. For instance, in the text, we discussed the
To see what is going on, economists often "adjust" the data to reflect changes in the economy. For instance, in the text, we discussed the adjustment in dollar amounts made to correct for inflation. 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
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