Were Things Really So Cheap in the "Good Old Days"? Using Index Numbers to Determine the Meaning of Historical Prices.

Savage, Tom V.; Armstrong, David G.

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Peer reviewed

ERIC Number: EJ463217

Record Type: Journal

Publication Date: 1992

Pages: N/A

Abstractor: N/A

ISBN: N/A

ISSN: ISSN-0037-7996

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Were Things Really So Cheap in the "Good Old Days"? Using Index Numbers to Determine the Meaning of Historical Prices.

Savage, Tom V.; Armstrong, David G.

Social Studies, v83 n4 p155-59 Jul-Aug 1992

Presents a method of using the Consumer Price Index to give students an understanding of the meanings of price levels in different historical periods. Demonstrates how to figure the actual price of items in the 1920s and 1930s by converting prices to present value. Argues that consumer goods were not cheaper in the past. (DK)

Descriptors: Cost Indexes, Costs, Economics, Economics Education, History Instruction, Inflation (Economics), Secondary Education, Social History

Publication Type: Reports - Descriptive; Guides - Classroom - Teacher; Journal Articles

Education Level: N/A

Audience: N/A

Language: English

Sponsor: N/A

Authoring Institution: N/A

Grant or Contract Numbers: N/A

Author Affiliations: N/A