qual to 1.60. In 2020 LeBron James earned $37,400,000 playing for the Los Angeles Lakers. The Plin 2020 is equal to 2.58. Calculate the real wage for Micheal Jordan in 1997 and Lebron Jame 2020. ease enter your answers as numeric answers rounded to the nearest dollar with no decimals (ie. 5,553,342 or $10,432,675 not $15,553,341.73 or $10,432,675.2). Because these will be large umbers it is a good idea to use commas to separate millions, thousands, and hundreds. 'hat was the real wage for Michael Jordan in 1997? 'hat is the real wage for LeBron James in 2020?
qual to 1.60. In 2020 LeBron James earned $37,400,000 playing for the Los Angeles Lakers. The Plin 2020 is equal to 2.58. Calculate the real wage for Micheal Jordan in 1997 and Lebron Jame 2020. ease enter your answers as numeric answers rounded to the nearest dollar with no decimals (ie. 5,553,342 or $10,432,675 not $15,553,341.73 or $10,432,675.2). Because these will be large umbers it is a good idea to use commas to separate millions, thousands, and hundreds. 'hat was the real wage for Michael Jordan in 1997? 'hat is the real wage for LeBron James in 2020?
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Question

Transcribed Image Text:Michael Jordan Earned $30,100,000 playing for the Chicago Bulls in 1997. In 1997 the CPI was
equal to 1.60. In 2020 LeBron James earned $37,400,000 playing for the Los Angeles Lakers. The
CPI in 2020 is equal to 2.58. Calculate the real wage for Micheal Jordan in 1997 and Lebron James
in 2020.
Please enter your answers as numeric answers rounded to the nearest dollar with no decimals (ie.
15,553,342 or $10,432,675 not $15,553,341.73 or $10,432,675.2). Because these will be large
numbers it is a good idea to use commas to separate millions, thousands, and hundreds.
What was the real wage for Michael Jordan in 1997?
What is the real wage for LeBron James in 2020?
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