Consider golfers who led the Professional Golfers'A ssociation of A merica (P GA ) in winnings at different points in time. Note that the winnings are nominal figures (unadjusted for inflation). To convert the original earnings of Nels on, Miller, 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 follow ing table, making sure to round your responses to the nearest U.S. dollar. Nominal W innings U.S. CPI Year Golfer (Dollars) (1983 = 100) W innings in 2016 Dollars 1945 Byron Nelson 63,336 18 1974 Johnny Miller 353,022 49.3 1981 Tom Kite 375,699 90.9 2016 Dustin Johnson 9,365,185 240.0 9,365,185 True or False: According to the previous table, the golfer with the highest PGA winnings in nominal dollars is not the same as the golfer wi th the highest PGA winnings after adjus ting for inflation. O True O False

Consider golfers who led the Professional Golfers'A ssociation of A merica (P GA ) in winnings at different points in time. Note that the winnings are nominal figures (unadjusted for inflation). To convert the original earnings of Nels on, Miller, 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 follow ing table, making sure to round your responses to the nearest U.S. dollar. Nominal W innings U.S. CPI Year Golfer (Dollars) (1983 = 100) W innings in 2016 Dollars 1945 Byron Nelson 63,336 18 1974 Johnny Miller 353,022 49.3 1981 Tom Kite 375,699 90.9 2016 Dustin Johnson 9,365,185 240.0 9,365,185 True or False: According to the previous table, the golfer with the highest PGA winnings in nominal dollars is not the same as the golfer wi th the highest PGA winnings after adjus ting for inflation. O True O False

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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is these totals inflation, deflation, disinflation or hyperinflation 1992 140.3 1993 144.5 144.5 -140.3=4.2/140.3=0.029 *100 =2.9% 1994 148.2 148.2 -144.5=3.7/144.5=0.025*100 = 2.5%
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 2018 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 U.S. CPI Year Golfer (Dollars) (1983 = 100) Winnings in 2018 Dollars %3D 1968 Billy Casper 205,169 34.8 1973 Jack Nicklaus 308,362 44.4 1981 Tom Kite 375,699 90.9 2018 Tiger Woods 5,443,841 251.1 5,443,841 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. True False
Adjusting for inflation:
Solve for Y : Y=116*(142/124) Round to two decimal places
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 2018 U.S. dollars. Using those figures, fill in the following table, making sure to round your responses to the nearest U.S. dollar. Year Golfer Nominal Winnings U.S. CPI Winnings in 2018 Dollars (Dollars) (1983 = 100) 1968 Billy Casper 205,169 34.8 1973 Jack Nicklaus 308,362 44.4 1981 Tom Kite 375,699 90.9 2018 Tiger Woods 5,443,841 251.1 5,443,841 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. True False