Business, 13.11.2019 20:31 Seena912

Suppose the nominal median household income in the united states was $24,218.00 in 1985, $35,078.00 in 1995, $48,726.00 in 2005, and $51,676.00 in 2010.

you will need to know that the cpi (multiplied by 100, 1982–1984 = 100) was 107.8 in 1985, 152.6 in 1995, 195.5 in 2005, and 218.3 in 2010.

instructions: enter your responses rounded to two decimal places.

year

real income

1985

$

1995

$

2005

$

2010

$

between 1985 and 2005, the real median household income (rose/declined/stayed constant)?

between 2005 and 2010, the real median household income (stayed constant/rose/declined)?

if the boskin commission's conclusions about cpi were confirmed, then real median income would be (greater than/smaller than/the same) as the values computed above?

Answers: 3

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Suppose the nominal median household income in the united states was $24,218.00 in 1985, $35,078.00...

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