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Anonymous
Anonymous asked in Social ScienceEconomics · 2 months ago

Do you think that everything or almost everything was cheaper in the 1970s than nowadays despite high inflation in the 1970s?

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  • 2 months ago
    Favorite Answer

    No, a used car was 200 dollars and it ran. A good little new car (Corolla) fully loaded was 2,500 dollars.

    The exception is electronics. In the late 70's early 80's a personal computer (desk top) started at 1500 dollars and 64K memory was a lot.

    Gas was 35 cents a gallon in 1970 by the way and so was a pack of smokes. There are some things for which the inflation rate has out paced increase in pay. 3.50 was minimum wage and that has only "doubled". But gasoline and energy in general has out paced that and so has food as well as housing. In the 1970's a single income household was workable even for the working class. Now it is not an option even in the middle income groups.

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  • Anonymous
    2 months ago

    Electronics weren't.

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  • Jesere
    Lv 7
    2 months ago

    Cigarettes were 35 cents a pack and gas was 25 cents in the early 70's. My dad sent me to the store for cigarettes and I had a note from him to the clerk that I was buying for him, I was 15.

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  • 2 months ago

    Almost. You could buy a good lunch for a buck then. But there are a few things - Televisions have dropped in price. Keep in mind that a recent college graduate earned about $10 per hour then.

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  • John
    Lv 7
    2 months ago

    Most things were lower priced in the 1970s but we were also paid much less then too.

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