Project #86210 - 250 words Discussion and two 75 words reply

250 words 

Get the historical data on the price of an item you select.  

Based on your research: What was the price of the item in the year you selected?  What is the price of the same of the same item today?  How much has the price inflated?  What are some of the reasons for the inflation?  Has the price of the item you selected increased faster/more than the general rate of inflation (about 3.4%)?  Slower/less?  About the same? Why?  Use the reading (Ch. 24) as a guide to apply the concepts of inflation related to item you selected. 

This hopefully will a fun post. I have put together a sample to help get you going. 

Here are some sites to help with your research:

1) There is a formula to compare todays dollars with another year on page 522 - very helpful in getting a grasp on your selection. 

2) A percent change calculator: http://www.percent-change.com/

3) Inflation calculator: http://www.westegg.com/inflation/

4) A good table that will show the price levels going back to the beginning of the US. http://oregonstate.edu/cla/polisci/sites/default/files/faculty-research/sahr/inflation-conversion/pdf/sumprice_1774-2012.pdf

 

Reply 75 words each ( Do you agree what he/ she say?Why?)

1.

Nike shoes is the item I selected; the reason I selected these items is because the Nike brand especially their shoes are well familiar internationally. Shoes are an important item for people and have been for a long time; this item is the same from back then to the shoes now in days. This item fits in because its a combination of two extraordinary products, Nike and Shoes. Every where you go if its on technology or in your outdside daily life you will be able to see this product because its funded everywhere especially by sports and athletes.This American Coorperation has been a great hit ever since, found on 1978. The average price of a pair of shoes now in days are $68.80 but can go over $100 and more. The price of nike shoe apparel in the 1970's were about $40.00. The difference in price between the cost of the 1970's to now is $215.25 in todays dollars. The product has inflated about $20 dollars with average shoe cost but can be different because the nike shoes can go over $100 dollars. The reason for the inflation is because Nike shoes apparel have gotten famous over the years and are sponsored really good especailly by stars. Buying Nike shoes back then were cheaper but because of minumum money wage as it increased so did the prouduct so you didnt miss out because now you can still get shoes at the price of $40-$60.

 

2.

Cell phones such as the apple or androids for they haven't been around for long but mostly everybody has one. The first phone was created by Motorola on the 3 of April in 1973 the call was made to Dr.Joel S.Engel of Bell Labs. The cost was $3,995 for the first phone the 8000X for it was portable and was made in New York with U.S products for it was expensive to manufacture. Unlike apple created their first generation of IPhone in June 29, 2007 for a cheaper price than some others. The Samsung Galaxy was created June 2009 and was well liked by most. Now a days it would cost around $500 to get a new phone out like that but they are cheap to manufacture for they are made in china or some other foreign country. Although it is needed greatly by all people for it communicates to you faster. 

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Due By (Pacific Time) 10/11/2015 04:00 pm
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