ARE 201 Lab 2

25 in 1990 a movie ticket in 2010 cost 800 13

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Unformatted text preview: in 1990. A movie ticket in 2010 cost $8.00. 13. Calculate the purchasing power equivalent of a movie ticket in 1990: a) 7.52 b) 7.95 c) 5.52 d) 6.05 14. Calculate the purchasing power equivalent of a movie ticket in 2010: a) 5.94 b) 6.95 c) 8.48 d) 6.05 15. Did the inflation adjusted price of a movie ticket increase or decrease from 1990 to 2010? a) Decreased b) Increased 16. The sales price for an F-150 pickup truck was $22,000 in 2012. What would have been the sticker price for an F-150 pickup truck in 1950 if the truck cost the same amount of money in terms of purchasing power as a truck in 2012? (Help: sticker price in 1950 x Purchasing power converter, 1950 = $22,000) What you want to figure out. Figure it out right here: a) 2,289.28 b) 2,346.95 c) 1,735.14 d) 3,575.15 Look it up in Table 1 of "Everyday Economics" The price of a n F-150 pickup in 2010 7 17. What factors other than monetary cost should you consider when comparing a 1950 truck with a 2012 truck? a) Technology differences; Interest rates in 1950 vs. 2012; Ignition system technology; Air conditioning b) Holiday discounts and promotions; Ignition system technology; Air conditioning; Automatic transmissions c) Technology differences; Tire quality in 1950 vs. 2012; Ignition system technology; Air conditioning; Automatic transmissions 18....
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