Question: 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

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):

(a) The salary of a worker in 1900: $1,000 per year.

(b) Babe Ruth’s salary in 1932: $80,000.

(c) A bottle of Coke or Pepsi in the late 1940s: one nickel.

(d) A quarter pounder from McDonald’s in 1972: 55 cents.

(e) A movie ticket to see Star Wars in 1977: about $2.25. (f ) A pack of M&M candies in 1991: 45 cents.

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