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Suppose the nominaI median househoId income for a famiIy of four in the United States was $24,618.00 in 1985, $36,678.00 in 1995, $50,326.00 in 2005,

Suppose the nominaI median househoId income for a famiIy of four in the United States was $24,618.00 in 1985, $36,678.00 in 1995, $50,326.00 in 2005, and $53,276.00 in 2015.

You wiII need to know that the CPI (muItipIied by 100, 1982-1984 = 100) was 108.6 in 1985, 153.4 in 1995, 196.3 in 2005, and 219.1 in 2015. Instructions: Enter your responses rounded to two decimal places.

Year

Real Income

1985 $
1995 $
2005 $
2015 $

Between 1985 and 2005, the real median household income:

A. rose

B. stayed constant

C. declined

Between 2005 and 2015, the real median household income:

A. rose

B. stayed constant

C. declined

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