Assignment Help-Unemployment and Inflation
Imagine that you have a fixed 30-year interest rate for your mortgage, and the economy has experienced unanticipated inflation.
The CPI in 1930 was 16.70 and in 2016 it was 245.12. In 1930, legendary baseball player Babe Ruth was paid $80,000.00. How much would his 1930 salary be worth in 2017?
