2007-03-06 02:08:48 · 2 answers · asked by Anonymous in Social Science ➔ Economics
I heard that our present day dollar is only worth about 30 cents.
Maybe this explains why gas is so high?
2007-03-06 02:26:22 · update #1
? you mean the dollar isn't worth a dollar anymore? when did that happen? Sarcasm aside....the dollar like most monetary units fluctuates over time when COMPARED to other currency. I mean really at one time the Mexican Peso was worth something too
2007-03-06 02:20:46 · answer #1 · answered by kerfitz 6 · 0⤊ 1⤋
You are talking about "Purchasing Power of Money". You need to take a base year and say that year the value of $1.00 was 1. Each year after that year with inflation the purchasing power has gone down.
This site can compute the Purchasing Power of Money from 1774 to 2006. http://www.measuringworth.com/ppowerus/
2007-03-06 11:45:00 · answer #2 · answered by Jerry 7 · 0⤊ 0⤋