A movie star was paid $1 million in 1960 to do a movie. The CPI was 29.3 in 1960 and the CPI in 2014 was 240. Approximately how much did the movie star earn in 2014 dollars?
A) $0.87 million
B) $8.66 million
C) $6.44 million
D) $7.74 million
E) ?$8.19 million
E
Economics
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What will be an ideal response?
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a. True b. False Indicate whether the statement is true or false
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