Drew Carey will host the $10 million game show

CBS' Drew Carey-hosted game show "Power of 10" will premiere on the network this August.

The network announced that "Power of 10" will have get a special launch on Tuesday, Aug. 7 at 8 p.m. ET. "Power of 10" will move into its regular time period the following night at 8 p.m.

The show's premise is simple: Contestants take the stage and answer one question worth $1,000. The second question is worth 10 times as much. Each passing question increases in value by 10 times. And if a contestant gets five questions correct, they'll walk away with $10 million.

The questions are based on the response of the American people to a series of questions. Thousands of people will be asked questions on a variety of issues and contestants will have to correctly gauge the pulse of the country -- CBS' release offers "What percentage of Americans said they were virgins the day they got married?" and "How many Americans believe they are smarter than president George W. Bush?" as sample queries.

Carey is no stranger to late summer high stakes game shows. You may recall he hosted "Pepsi Play for a Billion" back in 2003, though you'd probably be more likely to remember if anybody had actually won the billion.

It was a big day, actually, for veterans of ABC's "Whose Line Is It Anyway?" and their summer game shows. In addition to Carey and his CBS show, FOX also announced a July premiere for the Wayne Brady-hosted "Don't Forget the Lyrics!"