This lesson demonstrates a method for teaching students about inflation and the Consumer Price Index, using baseball players' salaries for purposes of illustration. Babe Ruth's salary from 1931 is adjusted to account for changes in the price level and is then compared to the salaries of those playing major league baseball players today.

Concepts

inflation

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Additional Tags

consumer price index (cpi), council for economic education, econedlink, price, consumer price index, cpi

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Classroom Considerations

• Knovation Readability Score: 3 (1 low difficulty, 5 high difficulty)