The average annual cost of living in Illinois, California, and Oregon are displayed in the table below. Cost of Living per state State Average Annual Cost of Living Illinois $58,000 California $70,000 Oregon $64,000 Suppose you were offered three jobs: a $72,000 annual salary in Illinois a $96,000 annual salary in California an $80,000 annual salary in Oregon. Based on purchasing power, which job would you select? Please show your work and explain your reasoning.

The average annual cost of living in Illinois, California, and Oregon are displayed in the table below. Cost of Living per state State Average Annual Cost of Living Illinois $58,000 California $70,000 Oregon $64,000 Suppose you were offered three jobs: a $72,000 annual salary in Illinois a $96,000 annual salary in California an $80,000 annual salary in Oregon. Based on purchasing power, which job would you select? Please show your work and explain your reasoning.

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter15: Poverty And Economic Inequality

Section: Chapter Questions

Problem 2SCQ: Jonathan is a single father with one child. He can work as a server for $6 per hour for up to 1,500...

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State	Average Annual Cost of Living
Illinois	$58,000
California	$70,000
Oregon	$64,000

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