1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
yaroslaw [1]
3 years ago
10

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 $57,230 in 2015. 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 237.0 in 2015

Business
1 answer:
Katena32 [7]3 years ago
4 0

Answer:

The highest median income in purchasing power terms was in 1995, then 2005, 2015, and last 1985

Explanation:

To solve this question we must transform the median household income into comparable units. To do so we use the CPI data given in the problem.

We can arrange everything in a spreadsheet like the attached figure. In  column A we have the years, in B the nominal median household income, in the third the CPI divided by 100, this will allow us to deflate and calculate the median income in constant 1982-1984 us dollars (since 1982-1984 will be the numeraire at 1). We do that by dividing column B by C, which is shown in column D.

With these values then we have all the median incomes in comparable units. We now can order and compare them

You might be interested in
In the weekly computer run to prepare payroll checks, a check was printed for an employee who had been terminated the previous w
Gre4nikov [31]
<h2>A control total for hours worked, prepared from time cards collected by the timekeeping department.</h2>

Explanation:

An employee should get salary only based on the number days / number hours worked for the organization. So the time card will help the organization to solve the problem.

So the time card should be collected and then only the salary needs to be calculated. The salary calculation should take number of leaves (paid / unpaid), permissions and On-duty in to account so that the expected outcome can be achieved.

8 0
3 years ago
A company's inventory records indicate the following data for the month of January: Jan. 1 Beginning 180 units at $9 each Jan. 5
katovenus [111]

Answer:

The amount of cost of goods sold for January:

                                     LIFO          FIFO      Weighted Average

Cost of goods sold    $4,520     $4,420       $4,452

Explanation:

a) Data and Calculations:

Date     Description    Units          Unit Cost/Price Total Cost Total Revenue

Jan. 1    Beginning       180 units at $9 each           $1,620

Jan. 5   Purchased      170 units at $10 each            1,700

Jan. 9   Sold              (300) units at $35 each                             $10,500      

Jan. 14  Purchased    200 units at $11 each            2,200

Jan. 20 Sold              (150) units at $35 each                                5,250

Jan. 30 Purchased    230 units at $12 each           2,760

Total                    780 / 450                                   $8,280         $15,750

b) Cost of goods sold:

LIFO:

Jan. 9   Sold  (300) 170 units at $10 = $1,700

                               130 units at $9 =      1,170

Jan. 20 Sold  (150) 150 units at $11 =    1,650

Cost of goods sold =                          $4,520

c) FIFO:

Jan. 9   Sold  (300) 180 units at $9 = $1,620

                               120 units at $10 =  1,200

Jan. 20 Sold  (150) 50 units at $10 =     500

                              100 units at $11 =    1,100

Cost of goods sold =                        $4,420

d) Weighted-Average:

Jan. 9   Sold  (300) 300 units at $9.49 = $2,847

Jan. 20 Sold  (150) 150 units at $10.70 =    1,605

Cost of goods sold =                                $4,452

Weighted Average Cost at each point of sale:

$9.49 = ($1,620 + $1,700)/350 units

$10.70 = (($9.49*50) + $2,200)/250 units

e) LIFO = Last In, First Out is based on the assumption that the items sold are from the last inventory purchased instead of the first.

FIFO = First In, First Out is based on the assumption that the items sold are from the first inventory instead of the last.

Weighted-Average: This method averages the cost of inventory to determine the unit cost.

Under the perpetual inventory system, the inventory costs are recorded immediately after an inventory transaction and not at the end of a period.

6 0
3 years ago
The Keynesian Theory "Bathtub" is illustrated below. Decreasing flows in one or more of the spending variables (C, I, G or NX) w
Svetradugi [14.3K]

Answer:

B) decrease

Explanation:

The Keynesian Bathtub Theory is an analogy between the economy and a bathtub where increases in government spending, consumption, business investments and exports, are shown as water flows into the bathtub. Decreasing spending will decrease the inflow of water into the bathtub which will result in lower income and employment.

8 0
3 years ago
Your company is considering a new project opportunity. It would need to immediately invest $220. In return, in the next 4 years
Julli [10]

Answer:

7.54 %

Explanation:

Year 0 = - $220

Year 1 = $80

Year 2 =  $70

Year 3 = $50

Year 4 = $60

I /yr = 5%

Internal Rate of Return for this project is 7.54 %

4 0
3 years ago
Who is the arrangement for automobile insurance between?
oksian1 [2.3K]
<span>It's an arrangement between an individual and an insurer</span>
7 0
3 years ago
Other questions:
  • When customers have their groceries scanned at the supermarket checkout counter, data regarding product sales and coupon redempt
    6·2 answers
  • A car owner found that her monthly cost of driving her car depends on the number of miles she drives. She calculates that if she
    5·1 answer
  • If a country has a trade surplus, we can conclude that it also has:
    10·1 answer
  • The records of Norton, Inc. show the following for July. Standard labor-hours allowed per unit of output 1.2 Standard variable o
    5·1 answer
  • Sarah's dog had purebred puppies that she decided to sell on www.puppyfind.com. Can Sarah exempt herself from liability for inju
    6·1 answer
  • The eventual result in the U.S. v. Microsoft case was: a. Bill Gates was sentenced to one year in prison for violations of the S
    8·1 answer
  • 2) The primary deficit is equal to A) the amount by which government purchases, transfers, and net interest exceed tax revenues.
    6·1 answer
  • h. After a promising start, Mercosur, the major Latin American trade agreement, has faltered and made little progress since 2000
    9·1 answer
  • Kim, a CPA, works for a small accounting firm consisting of two managing partners, six accountants and four secretaries. During
    12·1 answer
  • Examine the four different companies in the table, which shows their yearly
    13·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!