Back in the 1950s a piece of gum was 5 cents and today it


Back in the 1950's a piece of gum was 5 cents and today it is $1. Inflation has occured so that does that mean that people can afford to have less gum? Do they have less purchasing power? Explain please.

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Business Economics: Back in the 1950s a piece of gum was 5 cents and today it
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