Inflation and the cost of gasoline

2023-11-20 09:44:49

Inflation and the cost of gasoline


 

In 1980, one gallon of gasoline costs $1.22.  Today's prices are a lot higher.  Is that because the price has gone up or because in 1980 you could buy a lot more than you can buy today for $1.22?

In this activity we investigate the relative value of a gallon of gasoline.  Has the cost of gas really gone up? Students can use our activity sheet to discuss and refine the current and past gasoline costs and the effects of inflation. Then you and your class can study the charts and make some informed observations about whether the constant dollar cost of gasoline has really gone up, stayed the same, or gone down.  Add in some current event facts to the discussion to analyze why the nominal price of gasoline has changed through the years.

This activity is appropriate for students 5th grade or older.  It can be used to address many different skills & standards.

For Adventurer members we have an editable Word docx, an Excel sheet, and our activity solution.


 

Activity Solutions & Supporting Materials
Share this:
Comments (0)
    Display 1 - 10 Of total 0
    Huge Key Lime pie
    More for π Day!   On a cold an...
    U. S. Open Tennis Tournament prizes have been awarded
    The U.S. Open Tennis Tournament has just been comp...
    HDTV Surprise!
      How were your holidays?  Your school ...
    How big of a crepe can you make?
    At Costco you can buy this huge tub of nutella...
    The growth of Godzilla
    Image from Kris Holt: http://www....
    What's with the plovers?
    Cute little birds.  Piping plovers are ...
    Raising the bar
    Recovery of the treasure from the 1941 sinki...
    Spider-Man continues
    Spider-Man: No Way Home opened on December ...
    Saffron and paella
    In order to cook Paella (a delicious Spanish ric...