Welcome to Westonci.ca, your ultimate destination for finding answers to a wide range of questions from experts. Get quick and reliable solutions to your questions from knowledgeable professionals on our comprehensive Q&A platform. Get quick and reliable solutions to your questions from a community of experienced experts on our platform.
Sagot :
Answer:
The nominal earnings is only one side of the story. The thing that matters is what the earnings would be able to buy. Hence, we need to know how the prices are going to change, and what are is the expected inflation. If the inflation is very high, the same nominal money would be able to buy less goods and if the inflation is more, the same nominal money would be able to buy more goods.
Explanation:
The answer is the explanation
Before evaluating how well I could live in 2020, there are several other factors that need to be evaluated.
Evaluation for living
Many things need to be evaluated. These include the rise in price of every thing from food, petrol, and other basic necessities. It is important to note that what our earnings would be able to buy. Earnings will decide how better can we live in 2020.
Standard of living
Standard of living refers to the level of wealth, comfort, material goods, and necessities available to a certain socioeconomic class or geographic area. Standard of living is relevant because it is considered to contribute to an individual's quality of life.
Thus, many things need to be evaluated before deciding how well we are going to live in 2020.
Learn more here- https://brainly.com/question/10629222
#SPJ2
Visit us again for up-to-date and reliable answers. We're always ready to assist you with your informational needs. We hope our answers were useful. Return anytime for more information and answers to any other questions you have. Thank you for using Westonci.ca. Come back for more in-depth answers to all your queries.