In 1970, the typical U.S. household earned about $8,700. In 2013, the typical U.S. household earned about $51,939. If adjusted for inflation, the gross income of the typical U.S. household in 2013 relative to 1970 has
A)increased dramatically.
B)increased somewhat.
C)remained relatively stable.
D)decreased somewhat.
E)decreased dramatically.

Question

Quizplus · Accepted Answer

When adjusted for inflation, the real income of the typical U.S. household in 2013 is relatively similar to that in 1970, indicating stability in purchasing power over the period.

In 1970, the Typical U