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Explain the particular type of labor

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Reference no: EM133215216

Instructions:

1. Search online for the price of a particular good or service during some year in the past. For example, you could search for the price of a car or home in the year of your birth. You could also search for the price of a particular type of labor (wage or income) in the past. For example, how much did engineers earn in 1960? Or, what was minimum wage in 1942?

2. Next, search for an online inflation calculator (there are many available) and convert your historical price to its current value using the rate of inflation.

3. Respond: How does this compare to the actual price of that good today? Please view my post for an example.

All sources must be cited using a reference to an article or link to a website.

Reference no: EM133215216

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