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Unformatted text preview: Today the average baseball player earns more than 10 times Ruths 1931 salary, and the best players can earn 100 times as much. At first, this fact might lead you to think that baseball has become much more lucrative over the past six decades. But, as everyone knows, the prices of goods and services have also risen. In 1931, a nickel would buy an ice-cream cone, and a quarter would buy a ticket at the local movie theater. Because prices were so much lower in Babe Ruths day than they are in ours, it is not clear whether Ruth enjoyed a higher or lower standard of liv-ing than todays players. M E A S U R I N G T H E C O S T O F L I V I N G...
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This note was uploaded on 07/30/2010 for the course ECON 120 taught by Professor Abijian during the Spring '10 term at Mesa CC.
- Spring '10