The movie "Return of the Jedi" earned $264 million in 1983 when it was released. The CPI in 1983 was 97.8 and the CPI in 2012 was 226.665. Approximately how much did the movie earn in 2012 dollars?
A) $590 million
B) $612 million
C) $2.12 million
D) $123 million
E) $150 million
B
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If people use quartz as a medium of exchange, then they: a. have a barter economy
b. are using commodity money. c. are using token money. d. are using legal tender. e. are using fiat money.
When economists are trying to explain the world, they are
a. scientists. b. policy advisers. c. in the realm of microeconomics rather than macroeconomics. d. in the realm of normative economics rather than positive economics.
Price floors in agriculture lead to
A) efficient farming techniques being employed. B) surpluses of supported farm products. C) more competition in farming. D) the most efficient market solution.
Binary variables
A) are generally used to control for outliers in your sample. B) can take on more than two values. C) exclude certain individuals from your sample. D) can take on only two values.