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Consider golfers who led the Professional Golfers' Association of America (PGA) in winnings at different points in time. Note that the winnings are nominal figures (unadjusted for inflation). To convert the original earnings of Casper, Nicklaus, and Kite, use the formula for converting dollar figures from an earlier era into year 2016 U.S. dollars. Using those figures, fill in the following table, making sure to round your responses to the nearest U.S. dollar. Nominal Winnings Golfer Year 1968 Billy Casper 1973 Jack Nicklaus 1981 Tom Kite 2016 Dustin Johnson True (Dollars) 205,169 308,362 375,699 9,365,185 False U.S. CPI (1983 = 100) 34.8 44.4 90.9 240.0 Winnings in 2016 Dollars True or False: According to the previous table, the golfer with the highest PGA winnings in nominal dollars is the same as the golfer with the highest PGA winnings after adjusting for inflation. 9,365,185

Consider golfers who led the Professional Golfers' Association of America (PGA) in winnings at different points in time. Note that the winnings are nominal figures (unadjusted for inflation). To convert the original earnings of Casper, Nicklaus, and Kite, use the formula for converting dollar figures from an earlier era into year 2016 U.S. dollars. Using those figures, fill in the following table, making sure to round your responses to the nearest U.S. dollar. Nominal Winnings Golfer Year 1968 Billy Casper 1973 Jack Nicklaus 1981 Tom Kite 2016 Dustin Johnson True (Dollars) 205,169 308,362 375,699 9,365,185 False U.S. CPI (1983 = 100) 34.8 44.4 90.9 240.0 Winnings in 2016 Dollars True or False: According to the previous table, the golfer with the highest PGA winnings in nominal dollars is the same as the golfer with the highest PGA winnings after adjusting for inflation. 9,365,185

ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Consider golfers who led the Professional Golfers' Association of America (PGA) in winnings at different points in time. Note that the winnings are nominal figures (unadjusted for inflation). To convert the original earnings of Casper, Nicklaus, and Kite, use the formula for converting dollar figures from an earlier era into year 2016 U.S. dollars. Using those figures, fill in the following table, making sure to round your responses to the nearest U.S. dollar. Nominal Winnings Year Golfer 1968 Billy Casper 1973 Jack Nicklaus 1981 Tom Kite 2016 Dustin Johnson True (Dollars) 205,169 308,362 375,699 9,365,185 False U.S. CPI (1983= 100) 34.8 44.4 90.9 240.0 Winnings in 2016 Dollars True or False: According to the previous table, the golfer with the highest PGA winnings in nominal dollars is the same as the golfer with the highest PGA winnings after adjusting for inflation. 9,365,185
Transcribed Image Text:Consider golfers who led the Professional Golfers' Association of America (PGA) in winnings at different points in time. Note that the winnings are nominal figures (unadjusted for inflation). To convert the original earnings of Casper, Nicklaus, and Kite, use the formula for converting dollar figures from an earlier era into year 2016 U.S. dollars. Using those figures, fill in the following table, making sure to round your responses to the nearest U.S. dollar. Nominal Winnings Year Golfer 1968 Billy Casper 1973 Jack Nicklaus 1981 Tom Kite 2016 Dustin Johnson True (Dollars) 205,169 308,362 375,699 9,365,185 False U.S. CPI (1983= 100) 34.8 44.4 90.9 240.0 Winnings in 2016 Dollars True or False: According to the previous table, the golfer with the highest PGA winnings in nominal dollars is the same as the golfer with the highest PGA winnings after adjusting for inflation. 9,365,185
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