Suppose housing prices across the world double. a. Is society any richer for the change? b. Are
Question:
a. Is society any richer for the change?
b. Are homeowners wealthier?
c. Can you reconcile your answers to ( a ) and ( b )? Is anyone worse off as a result of the change?
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a No The increase in price did not add to the productive capacity of the ec...View the full answer
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