Basic economics says both 😱
Dear Brian, thank you for this great post ! I think there is a minor typo in the 2nd graph, maybe the second demand curve should be "D, 2022".
Great post. I'd love to see this with the PCE vs PCE price index plotted as a trajectory on a log-log plot, rather than just the two points. I think the dynamics could be quite interesting.
Dear Brian, thank you for this great post ! I think there is a minor typo in the 2nd graph, maybe the second demand curve should be "D, 2022".
Great post. I'd love to see this with the PCE vs PCE price index plotted as a trajectory on a log-log plot, rather than just the two points. I think the dynamics could be quite interesting.