What’s the value of $100? That might seem like a trick question, but it’s actually an important indicator in measuring regional economics.
That’s because money buys you a lot more in some places than others. Just look at Mississippi, the state with the highest relative value. There, $100 will buy the same amount of stuff that would cost $115.34 in a state at the national average price level. On the flip side, money in Washington, D.C., has the lowest value, relative to the national average. There, you have to spend $100 to get $84.67 worth of value at that national average.
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