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PAGE 326 ? Chapter 03/Measuring the Cost of Living
Chapter 03/Measuring the Cost of Living ? PAGE 327
PAGE 301
Chapter 3
Measuring the Cost of Living
MULTIPLE CHOICE
1. Babe Ruth, the famous baseball player, earned $80,000 in 1931. Today, the best baseball players can earn 200 times as much as Babe Ruth in 1931. However, prices have also risen since 1931. We can conclude that
a. the best baseball players today are about 200 times better off than Babe Ruth was in 1931.
b. because prices have also risen, the standard of living of baseball stars hasn’t changed since 1931.
c. one canno
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