Question: show all your work for the problems requiring calculations. 1.Define Real Income. REAL INCOME is the household's income expressed as a quantity of goods the

show all your work for the problems requiring calculations.

1.Define Real Income.

REAL INCOME is the household's income expressed as a quantity of goods the household can afford to buy.

can afford to buy. Lobster (dinners per month) -NUAUO NOOO= 0 2

$(dinners per month)\fD Carrots (bunches per month) A Compact discs (per month)Movies$ [per month) Com chips (bags per month) O 0 Plays (per month]

Lobster (dinners per month) -NUAUO NOOO= 0 2 4 6 8 10 12 14 16 18 20 22 24 Steak (dinners per month)\fD Carrots (bunches per month) A Compact discs (per month)Movies [per month) Com chips (bags per month) O 0 Plays (per month] Potato chips (bags per month)b A Hamburgers (number per week) L 2 0 4 Milk shakes (number per week]40 32 Gasoline [gallons per week) 24 16 4 12 16 20 24 Coffee (pounds per week)

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5. It is the needs of the individual that are important.

6. It is what the person has previously done for the group that is the deciding factor.

3. It is the commitment you show that is the deciding factor.