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To: LLCF who wrote (59137)	1/18/2001 10:05:33 AM
From: Moominoid	Read Replies (2) \| Respond to of 436258

As I thought I'd said: products change. If you don't take account of the changes in products you aren't measuring real output correctly. There could be both improvements and deteriorations. The correct measure of the price level is the actual dollar amount paid for the product divided by the quantity of the product. The guys at BLS are trying to work out the cost per unit of real output. A better product for the same price is a decline in the price of real output. The consumer is better off.