6. Suppose the nominal median household income for a family of four in the United States was $24,118.00 in 1985, $34,678.00 in 1995,$48,326.00 in 2005, and $51,276.00 in 2015.You will need to know that the CPI (multiplied by 100, 1982–1984 = 100) was 106.6 in 1985, 151.4 in 1995, 194.3 in 2005, and 217.1 in2015.%3DInstructions: Enter your responses rounded to two decimal places.YearReal Income1985$1995$2005$2015$Between 1985 and 2005, the real median household income (Click to select)Between 2005 and 2015, the real median household income v (Click to select)rosedeclinedstayed constant

Real Income = CPI in base year / CPI in current year * 100

Suppose the nominal median household income for a family of four in the United States was $24,118.00 in 1985, $34,678.00 in 1995, $48,326.00 in 2005, and $51,276.00 in 2015. You will need to know that the CPI (multiplied by 100, 1982–1984 = 100) was 106.6 in 1985, 151.4 in 1995, 194.3 in 2005, and 217.1 in 2015.

Suppose the nominal median household income for a family of four in the United States was $24,118.00 in 1985, $34,678.00 in 1995, $48,326.00 in 2005, and $51,276.00 in 2015. You will need to know that the CPI (multiplied by 100, 1982–1984 = 100) was 106.6 in 1985, 151.4 in 1995, 194.3 in 2005, and 217.1 in 2015.

Economics (MindTap Course List)

13th Edition

ISBN:9781337617383

Author:Roger A. Arnold

Publisher:Roger A. Arnold

Chapter6: Macroeconomic Measurements, Part I: Prices And Unemployment

Section6.1: Measuring The Price Level

Problem 3ST

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Suppose the nominal median household income for a family of four in the United States was $24,618.00 in 1985, $36,678.00 in 1995, $50,326.00 in 2005, and $53,276.00 in 2010.You will need to know that the CPI (multiplied by 100, 1982–1984 = 100) was 108.6 in 1985, 153.4 in 1995, 196.3 in 2005, and 219.1 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 (Click to select) rose declined stayed constant . Between 2005 and 2010, the real median household income (Click to select) .
Suppose the nominal median household income for a family of four in the United States was $24,618.00 in 1985, $36,678.00 in 1995, $50,326.00 in 2005, and $53,276.00 in 2010.You will need to know that the CPI (multiplied by 100, 1982–1984 = 100) was 108.6 in 1985, 153.4 in 1995, 196.3 in 2005, and 219.1 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 (Click to select) rose declined stayed constant . Between 2005 and 2010, the real median household income (Click to select) rose declined stayed constant . rev: 01_31_2019_QC_CS-155719
According to the U.S. Census Bureau (www.census.gov), the median household income in the United States was $23,618 in 1985, $34,076 in 1995, $46,326 in 2005, and $49,276 in 2010. In purchasing power terms, how did family income compare in each of those four years?You will need to know that the CPI (multiplied by 100, 1982–1984 = 100) was 107.6 in 1985, 152.4 in 1995, 195.3 in 2005, and 218.1 in 2010. Instructions: Enter your responses rounded to two decimal places. Year Real Income 1985 $ 1995 $ 2005 $ 2010 $
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