If 10 Years Ago, the Price of a Movie Ticket

question 103

Multiple Choice

If 10 years ago, the price of a movie ticket was $5 and the average hourly wage was $10, and today the price of a movie ticket is $8 and the average hourly wage is $20, then

• A)movies are now relatively cheaper in terms of work hours.
• B)movies are now relatively more expensive in terms of work hours.
• C)the relative price of movies has remained constant.
• D)workers now need to work longer hours to earn one movie ticket.

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Definitions:

Decision Making

The cognitive process of selecting a course of action from multiple alternatives, often involving some form of judgement or deliberation.

Floating

The state of being buoyant or suspended within a medium, or a financial strategy involving the use of floating interest rates.

Information Flows

The movement or transmission of data and information within an organization from one point or person to another.

Brainstorming

A group creativity technique designed to generate a large number of ideas for the solution of a problem.