the answer

Time Required: 10 minutes Time Travel, Inflation Style LESSON 19: STUDENT ACTIVITY SHEET 1 What does inflation really mean? Enter the amount your group was given at the beginning of class ($100, $500 or $1,000) in the space above the chart below. Then use the Inflation Calculator at data.bls.gov/cgi-bin/cpicalc.pl to calculate the difference in buying power that amount of money represented over several decades in comparison with 1990, 2000 and today. Enter the amount of money you were assigned at the beginning of the class in the calculator, then input the years according to the chart and see how the values change over time. Note: You can look up even more current inflation tables using the same tool. Amount of money I have: Year Starting Value Buying Power in 1990 Buying Power in 2000 Buying Power Today 1920 1930 1940 1950 1960 1970 1980 What happened to the numbers on your chart? Why did they change the way they did? What does this say about the value of a dollar and inflation? STUDENT ACTIVITY: TIME TRAVEL, INFLATION STYLE | 1