1.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 2017, the postage stamp cost 49 cents, a loaf of bread was $1.98, gasoline averaged $2.42 per gallon, and the average new car cost $34,670. From this statement, it follows that consumers today are worse off than consumers in 1975. Comment.