ARE 201 Lab 2

25 in 1990 a movie ticket in 2010 cost 800 13

This preview shows page 1. Sign up to view the full content.

This is the end of the preview. Sign up to access the rest of the document.

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....
View Full Document

This lab report was uploaded on 02/19/2014 for the course ARE 201 taught by Professor Eryuruk during the Spring '08 term at N.C. State.

Ask a homework question - tutors are online