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ECONOMIC H

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Economics

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Feb 20, 2024

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3. Converting dollars from one year to another Consider golfers who led the PGA in winnings in different years. Note that the winnings are in the dollars earned in a particular year. The formula for converting dollars from one year to another is as follows: Current Year Index Original Year Index Adjusted Earnings = Original Earnings x Complete the following table by converting the original U.S. dollar earnings of Casper, Miller, and Stadler to 2009 U.S. dollars. (Hint: Round your calculations up to the nearest U.S. dollar.) Year Golfer Nominal Winnings U.S. Dollars ($) U.S.CPI (1983 = 100) Winnings in 2009 U.S. Dollars ($) 1968 Billy Casper 205,169 34.8 v 1974 Johnny Miller 353,022 49.3 v 1982 Craig Stadler 446,462 Q6.5 v 2009 Tiger Woods 10,508,163 214.5 10,508,163 List the four golfers in order from lowest inflation-adjusted winnings to highest. Begin by choosing the golfer with the lowest inflation-adjusted winnings from the selection list labeled "4." 4. v 3. v 2. v 1. v
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