Babe Ruth, the Famous Baseball Player, Earned $80,000 in 1931

Multiple Choice

Babe Ruth, the famous baseball player, earned $80,000 in 1931. Today, the best baseball players can earn 200 times as much as Babe Ruth in 1931. Are the best baseball players better off than Babe Ruth?

A) Yes, the best baseball players today are better off than Babe Ruth was in 1931 because they earn much more.
B) No, because prices have also risen.
C) It cannot be determined because one cannot make judgments about changes in the standard of living based on changes in prices and changes in incomes.
D) It cannot be determined without additional information regarding increases in prices since 1931.