Re:Home Price to Income Ratio
by lottin on Thursday September 23, 2021 @03:41AM
(#28626308)
It's the standard definition, where inflation is a change in the price level, and the nominal GDP is defined as the real GDP times the price level Y×P. Since GDP is a just a sum of income components, of which one is wages, an increase in the price level implies a proportional increase in wages.
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