To determine the income your grandparents would have to earn today in order to have purchasing power equivalent to their income in 1969, you would:

Question

Quizplus · Accepted Answer

To determine the equivalent purchasing power, we need to adjust for inflation by using constant, real dollars of today. Choice B would not accurately reflect the change in the value of money over time. Choice C would not reflect the change in prices and cost of living. Choice D is relevant for calculating changes in the Consumer Price Index, but it does not directly address the question of determining equivalent purchasing power.

To Determine the Income Your Grandparents Would Have to Earn