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.

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)