From ABBA to Led Zeppelin: using music to teach economics
From ABBA to Led Zeppelin: using music to teach economics

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Pain in the Gas - Billy Ray Cyrus

JEL:        

So if you see me thumbin'
A-beggin' or a-bummin'
Ponder these three questions that I ask
Who's to blame for all my sorrow
Does relief lie in tomorrow
In the meantime could I borrow a little cash

'Cause there's a pain in my gas
It's killin' me so fast
All my hard earned money just thrown away

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Assignment:

In the lyrics above, the artist complains about high gas prices. In 1918, the at-the-pump price of gas was only 25 cents/gallon. Is gas more expensive now than it was in 1918? Use the Consumer Price Index calculator to compare prices. Explain the difference between real and nominal prices and use these terms in your response.

[Will Luther assisted with this assignment.]

Full Lyrics


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