Assume in 2010, 1 Swiss franc cost.55 British pounds and in 2012 it cost .52 British pounds. How much would 1 British pound purchase in Swiss francs in 2010 and 2012? O 2010: 1.81 francs, 2012: 1.92 francs 2010: 1.78 francs, 2012: 1.96 francs O 2010: 1.71 francs, 2012: 2.00 francs O 2010: 1.73 francs, 2012: 1.97 francs

Assume in 2010, 1 Swiss franc cost.55 British pounds and in 2012 it cost .52 British pounds. How much would 1 British pound purchase in Swiss francs in 2010 and 2012? O 2010: 1.81 francs, 2012: 1.92 francs 2010: 1.78 francs, 2012: 1.96 francs O 2010: 1.71 francs, 2012: 2.00 francs O 2010: 1.73 francs, 2012: 1.97 francs

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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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