Adjust for population size as well. The cost per person has been declining even faster. US population increased from 248 to 330 million over this period. May also want to consider time prices in addition to inflation adjusted prices in order to more fully capture innovation.
Adjust for population size as well. The cost per person has been declining even faster. US population increased from 248 to 330 million over this period. May also want to consider time prices in addition to inflation adjusted prices in order to more fully capture innovation.