Last year the Parker family used to eat at nice restaurants almost four times a week.Even though Mr.Parker got a 5% raise, the cost of living increase this year was 7%.As a result the family eats most of their meals at home, dining out only four times a month.This reflects

Question

Quizplus · Accepted Answer

The increase in the cost of living has reduced the family's purchasing power. Even with the 5% raise, they cannot afford to dine out as often as they used to, resulting in a decrease in their discretionary income.

Last Year the Parker Family Used to Eat at Nice