Suppose that a consumer's increase in nominal income from the base year exceeds the inflation level given by a Paasche cost of living index for their level of purchases: 
Is this information enough to imply how the consumer's level of well-being has changed? (Hint: Use a revealed preference argument.)
Definitions:
Cognitive-Affective Personality System (CAPS)
A psychological theory that emphasizes the interaction of cognitive and emotional processes in shaping personality.
Personality System
The organized set of characteristics, traits, and behaviors that uniquely define how a person interacts with the environment and others.
Insight
The ability to understand the inner nature of things or a deep understanding of a person or situation.
Idiographic Goals
Personalized goals that are unique to an individual, emphasizing their singular narrative or life pathway.
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