list something that you can buy for about $20 today. how does it make you feel to know this item would have…
list something that you can buy for about $20 today. how does it make you feel to know this item would have cost $1.60 if it was purchased in 1950? does this mean that the item would have been super cheap and affordable for most people in 1950? why or why not? (100 words or more)
Answer
Brief Explanations:
One item that can be bought for about $20 today is a moderately - priced book. Knowing it cost $1.60 in 1950 might make one feel that prices have significantly increased over time. Whether it was affordable in 1950 depends on income levels then. In 1950, the median household income was lower than today. While $1.60 might seem cheap in comparison, it could have been a relatively larger portion of a person's budget, so it may not have been affordable for everyone.
Answer:
One item is a moderately - priced book. The feeling is that prices have risen a lot. It may not have been affordable for most in 1950 as income levels were lower and it could have been a relatively large part of the budget.