巴德 宏观经济学原理（英文版·第8版）Chapter 7 Eye Ons.pptxVIP

EYE Ons7The CPI and theCost of Living Gone with the Wind is the answer.To get this answer, Box-Office Mojo calculates the amount that a movie really earns.Box-Office Mojo converts the dollars earned to their equivalent in current year dollars.But rather than use the CPI, Box-Office Mojo uses the average prices of movie tickets as its price index. Gone with the Wind was made in 1939 and rereleased in nine subsequent years.By 2015, it had earned a total box office revenue of almost $200 million in the United States.Star Wars: The Force Awakens, released in 2015, earned $937 million.Star Wars: The Force Awakens earned almost 5 times the dollars earned by Gone with the Wind.Which movie really earned more box office revenue? To convert the Gone with the Wind revenues into 2015 dollars, …multiply the dollars received each year by the 2015 CPI and divide by the CPI for the year in which the dollars were earned.Box-Office Mojo has done such a calculation, but rather than use the CPI, it used the average prices of movie tickets.According to Box-Office Mojo, valuing the tickets for Gone with the Wind at 2015 movie-ticket prices, it has earned $1,733 million, almost double what Star Wars: The Force Awakens earned. Because Box-Office Mojo uses average ticket prices, the real variable that it compares is the number of tickets sold.The average ticket price in 2015 was $8.43, which means that 206 million movie-goers have seen Gone with the Wind and 111 million have seen Star Wars: The Force Awakens.Gone with the Wind was the biggest hit because it was seen by the greatest number of people. During the preceding 600 years, inflation was almost unknown. These data show that inflation became a persistent problem only after 1900. There was a burst of inflation during the sixteenth century after Europeans discovered gold in America, but this inflation was less than 2 percent a year. This inflation eventually subsided. The Industrial Revolution was a temporary burst of inflation followe