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1) Inflation: You were either given or you estimated the monthly wages and the monthly budget of your chosen character (2005). Calculate the wage today that would be equivalent in purchasing power to the wage your individual makes in the year noted in the primary source. Relate this to the current federal minimum wage of $7.25, and briefly report if the current federal minimum wage has been adjusted to inflation. Create a bar graph to help the readers understand the effect of inflation and the comparison of the individual’s wage.
2) Cost of Living: Choose another state that your individual may consider relocating to. Calculate the equivalent wage in the chosen city to the wage the individual is currently making. Be careful to compare two cities at the same moment in time. Create a visualization to help the readers understand the difference in the costs of living in two different cities. (samples:COL1.png, COL 2.png) Draw a conclusion about whether your individual should stay or go.
The inflation calculator is used to compare the purchasing power of the individual in today’s date. The student compared the data with today’s minimum wage and clearly articulated the their opinion about the current minimum wage. Students have created the visualization that clearly explains the effect of inflation over the years. The visualization is self-explanatory and helps the reader understand the effect of inflation.
Choose another state that the individual may consider relocating to. The student clearly justifies the reason behind the choice of the new place of living. The student calculates the equivalent wage in the chosen city to the wage the individual is currently making. The student compares the cost of living of the two cities. Use appropriate figures to visualize the difference in costs of living. Draw a conclusion about whether your individual should stay or go. The graph is self-explanatory. The student works on a single time frame.
Wrap up your report with 200-300 words on the main takeaways you revealed during the process of this investigation. The student clearly articulates their personal opinion/ arguments about the entire report.