In 1992, it used to take 16 minutes, now it only takes 7. What is it?
Who knows? Probably lots of things.
In 1960, it cost extra money. Today, it's not extra. What is it?
Perhaps a phone call? I don't really know, provide the answer choices please.
To answer the question, we need to determine what activity, process, or event is being referred to. From the given information, we can see that there has been a decrease in time, from 16 minutes down to 7 minutes.
Unfortunately, without any additional context or clues, it is difficult to determine exactly what is meant by "it." There are countless activities, processes, or events that could potentially fit this description.
To gather further information, we need to consider the context surrounding the question. If you can provide any additional details or context, it would greatly help in providing a more accurate answer. For example, if you mention a specific industry, event, or situation, it might be easier to narrow down the possibilities and come up with a more precise answer.