5. According to the US Census Bureau (www.census.gov), nominal income for the typical family of four in
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5. According to the US Census Bureau (www.census.gov), nominal income for the typical family of four in the United States (median income) 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, 1982–84 = 100) was 107.6 in 1985, 152.4 in 1995, 195.3 in 2005, and 218.1 in 2010. LO 3.2 MEDIUM
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