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According to the Consumer Price Index, how much purchasing power does one U.S. dollar have today compared to what it had in 1970?

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Per the Consumer Price Index, one dollar in 2019 has the same purchasing power as 15 cents in 1970. This means that today's dollar has 6.7 times less purchasing power than in 1970. The primary cause of this is government increasing the supply of money faster than the economy demands it.

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