Consider the Smith family of four living across the street from you in your neighborhood/state.

They do not earn an outrageous amount of money; however, they consider themselves as having a comfortable lifestyle. 

• 1) In your opinion, describe briefly what a comfortable lifestyle looks like in your neighborhood.
• 2) In your opinion, what is the Smith's annual household income to maintain a comfortable lifestyle in your neighborhood?
• 3 Lastly, assume the annual household income is earned by one person. Calculate the hourly wage for this annual income amount.
• 4) Do you know the current federal minimum wage? How about your state minimum wage? What is it?

Answer rating: 100% (QA)

A comfortable lifestyle in my neighborhood would include owning a modestsized home or renting a comf... View the full answer