As the listmember who probably has the dampest ink on his econ B.A., I can verify that that's what's being taught in our universities.

In a message dated 12/4/03 3:07:31 PM, [EMAIL PROTECTED] writes:

>I think you are remembering your undergraduate education incorrectly (it
>has been a while Bryan). Some goods don't get any quality adjustment. It
>is possible that that is what you are remembering. There are cases where
>there are quality changes and no adjustment, but every index is, and always
>has been (as far as I know), adjusted to some extent to allow for quality
>changes. - - Bill

Nope. I learned the same thing, albeit some years earlier, in my
undergraduate education, that the CPI-u doesn't adjust for changes in quality or in the
market basket.


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