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1. How much is that? Using the data on the consumer price index reported in Table S.1, calculate the value in 2018 of the following items (refer to the nearest year in the table to do each calculation): 1. The salary of a worker in 1900: $1,000 per year. 2. Babe Ruth's salary in 1932: $80,000. 3. A bottle of Coke or Pepsi in the late 1940s: one nickel. 107 íí u

1. How much is that? Using the data on the consumer price index reported in Table S.1, calculate the value in 2018 of the following items (refer to the nearest year in the table to do each calculation): 1. The salary of a worker in 1900: $1,000 per year. 2. Babe Ruth's salary in 1932: $80,000. 3. A bottle of Coke or Pepsi in the late 1940s: one nickel. 107 íí u

Macroeconomics
Macroeconomics
13th Edition
ISBN:9781337617390
Author:Roger A. Arnold
Publisher:Roger A. Arnold
Chapter14: Money And The Economy
Section: Chapter Questions
Problem 6WNG
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TABLE 8.1 The Consumer Price Index, 1900-2018 (2018 = 100) Year CPI Year CPI 1900 3.24 1980 32.81 1930 6.65 1990 52.05 1950 9.59 2000 68.58 1960 11.80 2010 86.84 1970 15.47 2018 100.00 Source: Samuel H. Williamson, "The Annual Consumer Price Index for the United States, 1774-Present," MeasuringWorth, www.measuringworth.com.
Transcribed Image Text:TABLE 8.1 The Consumer Price Index, 1900-2018 (2018 = 100) Year CPI Year CPI 1900 3.24 1980 32.81 1930 6.65 1990 52.05 1950 9.59 2000 68.58 1960 11.80 2010 86.84 1970 15.47 2018 100.00 Source: Samuel H. Williamson, "The Annual Consumer Price Index for the United States, 1774-Present," MeasuringWorth, www.measuringworth.com.
1. How much is that? Using the data on the consumer price index reported in Table 8.1, calculate the value in 2018 of the following items (refer to the nearest year in the table to do each calculation): 1. The salary of a worker in 1900: $1,000 per year. 2. Babe Ruth's salary in 1932: $80.000. 3. A bottle of Coke or Pepsi in the late 1940s: one nickel. 4. A quarter pounder from McDonald's in 1972: 55 cents. 5. A movie ticket to see Star Wars in 1977: about $2.25. 6. A pack of M&M candies in 1991: 45 cents.
Transcribed Image Text:1. How much is that? Using the data on the consumer price index reported in Table 8.1, calculate the value in 2018 of the following items (refer to the nearest year in the table to do each calculation): 1. The salary of a worker in 1900: $1,000 per year. 2. Babe Ruth's salary in 1932: $80.000. 3. A bottle of Coke or Pepsi in the late 1940s: one nickel. 4. A quarter pounder from McDonald's in 1972: 55 cents. 5. A movie ticket to see Star Wars in 1977: about $2.25. 6. A pack of M&M candies in 1991: 45 cents.
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