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Inflation & Age Perception

Observational

I teach economics at a local community college. A few semesters ago, I gave an assignment to ask an "older person" when they bought their first new car and how much it cost. I intended to use the Consumer Price Index to calculate the current price and help the students understand inflation. I was expecting answers such as 1934, $350; or 1940, $500. What I got from the first student was 1973, $4,000. I asked this young lady whom she had asked for information, her answer was, "My mom. She's real oldβ€”almost 40!" (I was 42 at the time.)

age inflation humor