A typical family in the United States in 1900 had a purchasing power equal to _____ of the real U.S. GDP per capita in 2010.

Question

Quizplus · Accepted Answer

According to historical data, the real U.S. GDP per capita in 1900 was around $5,200 (measured in 2010 dollars), while the average family income during that time was roughly $650 per year. Therefore, the purchasing power of a typical family in 1900 was around 13% of the real U.S. GDP per capita in 2010.

A Typical Family in the United States in 1900 Had