When We Express Babe Ruth's 1931 Salary in Today's Dollars

question 78

Multiple Choice

When we express Babe Ruth's 1931 salary in today's dollars and compare his salary to those of current New York Yankee players,we find that the current median salary of today's Yankees is

• A)about three quarters of Ruth's salary.
• B)about the same as Ruth's salary.
• C)about twice Ruth's salary.
• D)more than four times Ruth's salary.

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Definitions:

Gross Profit Percentage

A financial indicator that calculates the percentage of income remaining from sales after subtracting the cost of goods sold.

Fixed Costs

Expenses that do not change with the level of goods or services produced by a business, such as rent or salaries.

Cost Of Goods Sold

an accounting term representing the direct costs attributable to the production of the goods sold in a company, including materials and labor costs.

Sales Presentations

The practice of showcasing a product or service to potential or existing customers to make a sale or reinforce business relationships.