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Feb21-12, 10:06 PM
P: 77
Some things have become more expensive over time in terms of constant dollars. Others have become much cheaper. Our first color television, for example, costs $380 in 1970. In today's dollars, that's about $2,200. It was a 17"! You can't even find a comparable TV today, but a 17" TV/Monitor will run you about $150, or about $27 in 1970's dollars.

Bread, meanwhile, costs about the same in terms of constant dollars.

A more accurate way of comparing prices, however, is as a percentage of the average income, provided.