Last year, the Parker family dined at nice restaurants almost four times a week. Even though Mr. Parker received a 2 percent pay raise, the cost of living rose by 4 percent and property taxes went up 5 percent in their community. As a result, the family now eats most of their meals at home, dining out only a few times a month. This reflects

Question

Quizplus · Accepted Answer

The Parker family's decision to eat at home more often and dine out less frequently is a reaction to a loss of discretionary income. The increase in the cost of living and property taxes has likely caused their expenses to exceed their income or significantly reduce their ability to spend on non-essential items like dining out. The other answer choices are not applicable to the scenario described.

Last Year, the Parker Family Dined at Nice Restaurants Almost