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.

Question

Quizplus · Accepted Answer

10 years ago, one had to work 0.5 hours to earn enough for a movie ticket ($5/$10). Today, one only needs to work 0.4 hours to earn for a movie ticket ($8/$20), making movies relatively cheaper in terms of work hours.

If 10 Years Ago, the Price of a Movie Ticket