Inflation and Money - End of Chapter Problem In 2003, Julia Roberts was paid a then-record shattering $25 million for her role in the film Mona Lisa Smile. The CPI that year was 184. In 2013, Sandra Bullock was paid $70 million for the film Gravity. The CPI in 2013 was 233. Round answers to two decimal places. a. Convert Julia Roberts' salary into 2013 dollars. $ b. Convert Sandra Bullock's salary into 2003 dollars. $ c. Which actress had higher real earnings? Julia Roberts million million Sandra Bullock
Inflation and Money - End of Chapter Problem In 2003, Julia Roberts was paid a then-record shattering $25 million for her role in the film Mona Lisa Smile. The CPI that year was 184. In 2013, Sandra Bullock was paid $70 million for the film Gravity. The CPI in 2013 was 233. Round answers to two decimal places. a. Convert Julia Roberts' salary into 2013 dollars. $ b. Convert Sandra Bullock's salary into 2003 dollars. $ c. Which actress had higher real earnings? Julia Roberts million million Sandra Bullock
Chapter1: Making Economics Decisions
Section: Chapter Questions
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Inflation and Money — End of Chapter Problem
![**Inflation and Money — End of Chapter Problem**
In 2003, Julia Roberts was paid a then-record shattering $25 million for her role in the film *Mona Lisa Smile*. The CPI that year was 184. In 2013, Sandra Bullock was paid $70 million for the film *Gravity*. The CPI in 2013 was 233.
*Round answers to two decimal places.*
a. Convert Julia Roberts' salary into 2013 dollars.
\[ $ \boxed{\phantom{}} \text{ million} \]
b. Convert Sandra Bullock's salary into 2003 dollars.
\[ $ \boxed{\phantom{}} \text{ million} \]
c. Which actress had higher real earnings?
\[ \circ \text{ Julia Roberts} \]
\[ \circ \text{ Sandra Bullock} \]](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F14044b42-4c29-4bd0-8d18-a5541d1f13fc%2F47b3060b-cd63-48e2-87d6-7a462cc0ce36%2Fgvidwi_processed.jpeg&w=3840&q=75)
Transcribed Image Text:**Inflation and Money — End of Chapter Problem**
In 2003, Julia Roberts was paid a then-record shattering $25 million for her role in the film *Mona Lisa Smile*. The CPI that year was 184. In 2013, Sandra Bullock was paid $70 million for the film *Gravity*. The CPI in 2013 was 233.
*Round answers to two decimal places.*
a. Convert Julia Roberts' salary into 2013 dollars.
\[ $ \boxed{\phantom{}} \text{ million} \]
b. Convert Sandra Bullock's salary into 2003 dollars.
\[ $ \boxed{\phantom{}} \text{ million} \]
c. Which actress had higher real earnings?
\[ \circ \text{ Julia Roberts} \]
\[ \circ \text{ Sandra Bullock} \]
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