The textbook shows that the inflation-adjusted movie receipts for Titanic (relea

Question

The textbook shows that the inflation-adjusted movie receipts for Titanic (released in 1997) were $3,205,455,051 in 2015 and the original receipts were $2,186,772,302. The implication is that O prices were about one-third lower in 2015 than they had been in 1997 O hyperinflation has occurred since 1997 prices were roughly 50% higher in 2015 than they had been in 1997. O Titanic was a bad movie at the time of its release but has become more popular over time. O prices were about the same in 2015 as in 1997. 4 Previous

Explanation / Answer

Answer:

The implication is that:

Prices were roughly 50% higher in 2015 than they had been in 1997.

Explanation :

Increase in price can be calculated by = price of 2015 – price of 1997 / price of 1997 * 100

= $3,205,455,051 - $2,186,772,302 / $2,186,772,302 * 100

= 46.58 %

Or we can say 47%, so it is nearly 50% increase in the prices. We can say that the economy has suffered inflation which has resulted in the increase in prices.     

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