Homework Answers
Decreased by over 90%.
This has mainly happened due to inflation over 1913 to date
One way to calculate decreasing buying power or US$ is as under:
Consumer Price Index in 1913 = 9.9
Consumer Price Index in 2019 = 255.657
Value of 1$ in 1913 Today = $1 * CPI of 2019/CPI of 1913
=1$ * 255.657/9.9 = $25.824
Meaning what one used to buy for 1$ in 1913, costs $25.824 in 2019
Depreciation in Value of $ (%) = 100% - [(1/25.824)*100]%
=100%-3.87%
=96.13%
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