One Dollar at the time BUT given inflation that one dollar would have purchased what $24.39 would purchase in 2015/16
If I understand your question correctly, when dealing with inflation, a dollar earned today is worth more than a dollar earned at any time in the future. This has to do with the concept of the present value of money. Because inflation devalues the dollar over time, a dollar earned today is worth more than say, a dollar earned five years from now.
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The dollar in your pocket is worth .99 of a dollar. also nominal interest=real interest+inflation so nominal interest goes up by 1%
because of the purchasing power of a particular country is increasing
One Dollar at the time BUT given inflation that one dollar would have purchased what $24.39 would purchase in 2015/16
Because inflation is the decrease in the value of a dollar over time, the "older" dollar is always worth more.
In 1950, one dollar was worth one dollar. Adjusted for inflation, one dollar in 1950 is just under $10 in 2014.
In 1970, one dollar was worth one dollar. Adjusted for inflation, one dollar in 1970 is just over $6 in 2014.
One dollar in 1968 was worth the same as $6.58 cents today. The dollar is no longer worth as much because of inflation.
Inflation
If I understand your question correctly, when dealing with inflation, a dollar earned today is worth more than a dollar earned at any time in the future. This has to do with the concept of the present value of money. Because inflation devalues the dollar over time, a dollar earned today is worth more than say, a dollar earned five years from now.
1 Australian Dollar is currently worth .69 Euro
A dollar from 1984 would be worth about $2.30 today. That is equivalent to a yearly inflation rate of 2.82 per year for a total inflation rate of 130.6 percent.
Adjusting for inflation, $1 in 1964 would be about $7.50 in 2012.
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According to the inflation calculator I searched, the $1.00 was worth $14.95 in January of 1941 at today's inflation rate.