If we were to calculate the increase in the cost of living from 1920 till 2017 there would be an increase of $1210.00. We have to take into consideration the inflation of the dollar. Earlier I gave the average price of a car in 1920 as $265.00. That same 265 would translate to $3,227.74 for that amount of money you could buy a car today. That’s a cumulative inflation rate of 118.0%. The graph to the right illustrates the changing inflation rates over the years.
Next we should look at the unemployment rates for both time periods. The two graphs to the left show these percentages. The overall unemployment rate today is 4.7% a huge drop from the 11.7% it was in 1920-21, but we have to take into consideration that there was a depression. With
Next we should look at the unemployment rates for both time periods. The two graphs to the left show these percentages. The overall unemployment rate today is 4.7% a huge drop from the 11.7% it was in 1920-21, but we have to take into consideration that there was a depression. With