In 1974, the price of a first-class postage stamp was 10 cents, a loaf of bread averaged 28 cents, gasoline was 53 cents per gallon, and the average price of a new car was $3,500. In 2014, the postage stamp cost 49 cents, a loaf of bread was $2.46, gasoline averaged $3.36 per gallon, and the average new car cost $32,531. From this statement, it follows that consumers today are worse off than consumers in 1975. Comment.