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Can someone take a look at those questions and help me out a little? I figured that the inflation rose 1216% from 1932 to 2002, but I'm not sure if I can determine which price cost more with just that number of if I need to find the next question out as well, and figure what their salaries would be.
I did that anyway, and working a 40 hour week at 55 cents in 1932 would yield 1,144 a year while in 2002 you'd make 30,700 a year.
So, I figured that 1,144 is 7.6% of 15,000 and 30,700 is 15.3% of 200,000. Would that mean 200,000 is less money today compared to 15,000?
2007-02-24 08:39:00 · 1 answers · asked by ohok 2 in Social Science ➔ Economics
From the numbers you are talking about, it looks like $15K would be worth approximately $416K today, so $200K would be less money.
2007-02-25 02:15:47 · answer #1 · answered by Santa Barbara 7 · 0⤊ 0⤋