Based on the inflation rate calculator recommended by Bureau of Labor Statistics (BLS), one dollar in 1974 had approximately five times the spending power of a dollar in 2014.Know More
Inflation is the steady increase in the price of consumer goods over time. As prices rise, the spending power of a unit of currency decreases. The overall rate of inflation is based on an average of all consumer good prices available at a given time and does not measure specific spending trends.
The BLS assigns a Consumer Price Index to each year. To calculate the value of a dollar in a past year, divide the CPI for that year by the current CPI. The answer is the value of one dollar in the chosen earlier year.Learn more about US History
In 1939, the cost to purchase a house in the United States was between $3,800 and $6,400. Renting a house cost approximately $28 per month.Full Answer >
According to the Federal Reserve Bank of Minneapolis, $1 in 1900 was equivalent to approximately $28 in 2013. The average yearly wage was $432, and a steam-powered car cost $1,000. The average home in America sold for approximately $5,000 in 1900.Full Answer >
Dollar diplomacy was a policy intended to increase American influence abroad by guaranteeing loans made by American banks to foreign countries. The policy is mostly associated with President William Taft. This policy aimed to create stability in areas of the world prone to violence and revolution.Full Answer >
As of 2014, the last five U.S. presidents were Barack Obama, George W. Bush, Bill Clinton, George H.W. Bush and Ronald Reagan. With the exception of George H.W. Bush, each president served two terms in office.Full Answer >