Taq writes:
Would this mean that Hubble's constant is not constant? That is, is Hubble's Constant higher for more distant galaxies than it is for closer galaxies (assuming they are not gravitationally bound)?
Err, no.
Hubble's law is the observation that galaxies are receding from us at a speed proportional to their distance from us. Hubble's constant is the constant of that proportionality, usually stated in (km/s)/Mpc which is kilometers per second for a galaxy one Megaparsec away.
So, what this means is that a galaxy one Megaparsec away is receding at a particular speed, and one two Megaparsecs away would be receding at twice that speed. Since the more distant galaxies have a higher velocity they are increasing in distance faster than slower, closer galaxies; ergo, more distant galaxies appear to accelerate away faster than closer galaxies.
If they go faster with more space between us, getting more space between us faster means they go faster... faster. Even though Hubble's constant is constant.