To convert the original earnings of Casper, Miller, and Pavin, 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. Golfer Year 1968 Billy Casper 1974 Johnny Miller 1991 Corey Pavin 2016 Dustin Johnson Nominal Winnings False (Dollars) 205,169 353,022 979,430 9,365,185 U.S. CPI (1983= 100) Winnings in 2016 Dollars 34.8 49.3 136.2 240.0 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 with the highest PGA winnings after adjusting for inflation. O True

ENGR.ECONOMIC ANALYSIS
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Author:NEWNAN
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Chapter1: Making Economics Decisions
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To convert the original earnings of Casper, Miller, and Pavin, 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
1968
1974
1991
2016
Golfer
Billy Casper
Johnny Miller
Corey Pavin
Dustin Johnson
True
(Dollars)
205,169
353,022
979,430
9,365,185
False
U.S. CPI
(1983= 100) Winnings in 2016 Dollars
34.8
49.3
136.2
240.0
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 with the
highest PGA winnings after adjusting for inflation.
9,365,185
Transcribed Image Text:To convert the original earnings of Casper, Miller, and Pavin, 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 1968 1974 1991 2016 Golfer Billy Casper Johnny Miller Corey Pavin Dustin Johnson True (Dollars) 205,169 353,022 979,430 9,365,185 False U.S. CPI (1983= 100) Winnings in 2016 Dollars 34.8 49.3 136.2 240.0 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 with the highest PGA winnings after adjusting for inflation. 9,365,185
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