Do you know the answer as of this writing it is

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Unformatted text preview: asks what is the topgrossing movie of all time in the United States. Do you know the answer? As of this writing, it is Titanic, which grossed $660 million in the United States and $1.8 billion worldwide. Some other movies that make the 10 top-grossing movies in the United States list include Star Wars (1977), Shrek 2, E.T., and Spider-Man. A slight problem arises when we realize that movies in the top 10 list were released in different years. For example, Titanic was released in 1997, Star Wars was released 20 years earlier in 1977, and E.T. was released in 1982. Now not only were ticket prices different in these different years, but the prices of almost all goods and services were different too. For example, the CPI in 1977 was 58.5, but it was 94.3 in 1982, and 160.5 in 1997. If we simply compare the gross receipts for movies in different years—without taking into account that prices are different in different years—we are making an inaccurate Who Are the Unemployed? Look at Exhibit 11-11 on the next page,...
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This document was uploaded on 01/16/2014.

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