Question: Use the following price level data to answer this question. 1920: 10 1950: 50 1980: 500 2009: 1,000 Say there is an actor paid $5,000

Use the following price level data to answer this question.

  • 1920: 10
  • 1950: 50
  • 1980: 500
  • 2009: 1,000

Say there is an actor paid $5,000 in 1950. How much is that in 2009 dollars?

A.$100,000

B.$150,000

C.$250,000

D.$ 1 million

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Economics Questions!

Q:

Use the following price level data to answer this question. 1920: 10 1950: 50 1980: 500 2009: 1,000 Say a movie cost a nickel in 1920. How much is that in 2009 dollars? A.$0.25 B.$1.00 C.$2.50 D.$5.00

Q:

Use the following price level data to answer this question. 1920: 10 1950: 50 1980: 500 2009: 1,000 Say there is a classic movie released in 1950. It makes $500,000 at the box office. A remake is...

Q:

4 Files 3:18 PM Fri May '13 Insert Draw Layout Review View Unit SMacroeconomic Policy Name: HR: FISCAL POLICY Use the space below to take notes during class. Disposable Income: How does a change in...

Q:

BLC Inc. is a medium-sized manufacturing company based in the UK. The company operates mainly in the London area and is based in Peterborough. At a recent board meeting, the company decided to expand...

Q:

Answer the question of this case in minimum 500 counts.. Case 1-3: Wa Imart stores, Inc. In November of 2013, Doug McMillon had just been named health and beatuty aids, and 29 percent of non-food...

Q:

Assignment: Brief 2: Portal Corporation Purpose To assess your ability to: define and illustrate a cost object distinguish between direct costs and indirect costs explain variable costs and fixed...

Q:

Please use the following links https://www.nber.org/research/data/us-business-cycle-expansions-and-contractions (for question 1) https://fred.stlouisfed.org/ (for questions 2, 6, 10, and 14 to create...

Q:

can you please help me solve this assignment quesions? ASSIGNMENT BAcc 2016 LETTER SEMESTER (2) [FINANCIAL ACCOUNTING 3B] [AFE3872] DUE DATES Assignment 1 Assignment 2 Assignments Resubmissions...

Q:

Ajax Manufacturing Company The simplification of this example is intended to help us focus clearly on the key underlying problem with conventional approaches to cost allocation. We will call the...

Q:

A... 1) The Economy cannot be considered fully employed unless the measured unemployment rate is below 1%. Agree or disagree and explain your answer in a paragraph. What is the current actual u-rate...

Q:

The following data are shaped roughly like a normal distribution (discussed in Chapter 6). Construct a frequency distribution starting with 10 as the lowest class beginning point and use a class...

Q:

Charlie, who is in the 39-6 percent marginal tax bracket, is the president and sole owner of Charlie Corporation (a C corporation in the 34 percent tax bracket). His current salary is $700,000 per...

Q:

New shoes are on sale. You find a pair you like for $ 8 5 but you only have $ 4 5 with you. You decide to pay $ 4 0 cash and charge your credit card. What will the balance be owed in 6 months

Q:

During the course of a day a machine turns out two items, one in the morning and one in the afternoon. The quality of each item is measured as good (G), mediocre (M), or bad (B). The long run...

Q:

1. To provide insight into how setting an overly narrow boundary can give a mes-sage a specific meaning, while setting a wider boundary can give a completely different meaning.

Q:

12. What is meant by the statement, often we do not know what the real problem is until we look at its possible consequences or solutions?.

Q:

9. What is meant by the statements: a) Experiences are different from what is experienced. b) The description is different from what is described.