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

Exploring Economics
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Author:Robert L. Sexton
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Chapter18: Introduction To Macroeconomics: Unemployment, Inflation, And Economic Fluctuations
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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.
$
b. Convert Sandra Bullock's salary into 2003 dollars.
$
c. Which actress had higher real earnings?
Julia Roberts
million
million
Sandra Bullock
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. $ b. Convert Sandra Bullock's salary into 2003 dollars. $ c. Which actress had higher real earnings? Julia Roberts million million Sandra Bullock
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