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Susie says that today such a house costs 220000 and such a

In 2008, Annie, an 80- year- old, is telling her granddaughter Susie about the good old days. Annie says that in 1938, you could buy a nice house for $ 15,000 and a jacket for $ 5. Susie says that today such a house costs $ 220,000 and such a jacket costs $ 70. The CPI in 1938 was 14.1 and in 2008 it was 215.3. Which house and which jacket have the lower prices?

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Microeconomics: Susie says that today such a house costs 220000 and such a

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