The $5 per hour in 1974 would be equal to $21.82 today in 2017, compared to $19.83 for the $9 in 1994 now in 2017, and all compared to the $17 today. So the higest real wage would be that of the grandfather, taking into account the 41% per decade or 3.5% per year inflation.
Answer:
house (if that was even an option it looks like it though)
Explanation:
Land, real estate, or buildings are considered the least liquid assets because it could take weeks or months to sell them. Before investing in any asset, it's important to keep in mind the asset's liquidity levels since it could be difficult or take time to convert back into cash.
Answer:
The answer is: 17
Explanation:
Demand is defined as the goods individuals are willing to purchase at the prevailing market prices. The demand curve expresses the relationship between the quantity demanded of goods at given market prices while holding all other factors constant. The given information expressed in tabular form is as follows:
Price Buyer1Qd Buyer2Qd Buyer3Qd Market Demand
$6 7 4 6 17
$5 9 7 8 24
$4 15 10 12 37
$3 21 15 16 52
In order to calculate total market demand, individual demand at the given prices are added horizontally, that is at a price of $6, total demand is 17, at $5 the total demand is 24 and so on. The higher the price the lower the quantity demanded and so on. The quantity demanded of a good and its price are inversely related.
Answer:
Cancel his cable TV subscription and go out to dinner three fewer times each month with friends
