If ten 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

Ten years ago, it took 0.5 hours of work to buy a movie ticket ($5/$10), and today it takes 0.4 hours ($8/$20), making movies relatively cheaper in terms of work hours.

If Ten Years Ago the Price of a Movie Ticket