Question

In 1999 the cost of a pack of gum was $1.00. That same pack of gum is now $2.00. In 1999 the cost of a college textbook was $100.00. That same textbook is now $101.00.Use these two products as an example to explain why it is important to calculate percentages instead of absolute numbers when discussing inflation rates.

Answer 1

It is important to calculate percentages instead of absolute numbers when discussing rates because it allows people how prices change over time

Answer 2

this nonsense was clearly written by a text book publisher
the cost of text has gone put way more (as a percent) than the cost of gum!

Answer 3

@satellite73 didn't the cost of gum go up way more 100% from a $1 to $2 where as the text book went up 1% from $100 to $101

Answer 4

Anyways the example doesn't matter they just want to know why it is important to calculate percentages instead of absolute numbers when discussing inflation rates.

Answer 5

Thank you @aggie12341 I agree.

Answer 6

I guess an absolute number doesn't show change over time.