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On the planet Hyperion every consumer who has ever lived has a utility function U(x, y) = min{x, 2y}. The currency of Hyperion is the doggerel. In 1850 the price of x was 1 doggerel per unit and the price of y was 2 doggerels per unit. In 2000, the price of x was 10 doggerels per unit and the price of y was 4 doggerels per unit. The Paasche price index of prices in 2000 relative to prices in 1850 is
Property Income
Income derived from the ownership of real estate, financial assets, or intellectual property, including rents, dividends, and interest earnings.
Personal Income
The total earnings received by an individual from all sources before taxes, including wages, dividends, and interest payments.
Property Income
Earnings derived from property ownership, such as rents, interest on loans, and dividends from investments.
Personal Income
The total income received by individuals, including wages, salaries, government benefits, and income from investments.
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